Entain Plc has been granted antitrust approval to proceed with its £750m [$984m] acquisition of STS Group, Poland’s largest betting group.
The FTSE100 gambling group informed investors this morning that Poland’s Office of Competition and Consumer Protection was “satisfied with the conditions of its tender” to acquire Warsaw-listed STS Holdings.
Dealmakers required the Polish government’s antitrust authorization as the STS Group accounts for more than a 51% share of Poland’s sports betting market.
Deal terms announced on 13 July will see Entain put forward a PLN 24.80 (£4.80) per share offer to acquire STS outright, which is deemed a 28-to-35% premium on STS’s trading volume for 2023.
