La Française des Jeux (FDJ) has brought forward the Kindred acquisition’s closing date to 2 October. The French lottery giant did so after receiving the final regulatory approval from the French Competition Authority to complete the transaction.
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Following the €2.45bn [$2.73bn] deal’s close, FDJ will become the second largest European gambling operator by revenue and market cap.
The final hurdle to be overcome is securing acceptance from 90% of Kindred’s shareholders. So far, five shareholders representing 26.72% of total capital have made an irrevocable commitment to sell to FDJ in the deal.
These include well-known activist investors Corvex Management and Eminence Capital, as well as Premier Investissement, Nordea, and Veralda.
