Codere is up for sale at a valuation of more than €2 billion ($2.3 billion), according to reports. On Wednesday, Spanish newspaper Expansión reported Codere had hired Jefferies and Macquarie Capital as advisors to prepare the company for a sale.
According to the report, interested parties are expected to submit non-binding offers for Codere by mid-May, with a final purchase agreement in place prior to the summer break in August.
Currently, Codere’s shareholding is split between around 84 investment funds.
In 2024, Codere underwent a recapitalisation agreement that reduced its corporate debt from €1.4 billion to around €190 million. This, it said, would ensure a “future of stability and growth” and allow it to target further expansion in LatAm and Europe.
