FDJ clears Swedish financial audit to proceed with €2.6B acquisition of Kindred

FDJ clears Swedish financial audit to proceed with €2.6B acquisition of Kindred

Article brief provided by SBC News
  • Ted Menmuir, SBC News
February 19, 2024 7:09 PM

Groupe Française des Jeux (Groupe FDJ) has announced that it has received regulatory approval by Finansinspektionen, Sweden’s Financial Supervisory Authority, to proceed with its offer to acquire Kindred Group Plc.

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The Paris Euronext gambling group secures its Swedish market’s financial authorisation to formally launch its SEK 130 (€11.40) per share offer to acquire Stockholm-listed Kindred Group, a deal announced on 22 January.

Finansinspektionen’s approval grants FDJ a 39-week period as of 20 February to complete its all-cash buyout of Kindred Group, putting forward a deal valued at approximately €2.6bn.

Dealmakers informed that “the completion of the tender offer remains subject to regulatory authorisations and FDJ’s acquisition of at least 90% of Kindred’s capital.”