La Française des Jeux (FDJ) has declared to the markets that investors of Kindred Group Plc have accepted its offer to acquire the Stockholm-listed online gambling group.
On 2 October, the final day of the offer period, FDJ was authorised to acquire 196 million of Kindred’s Swedish depositary receipts, taking ownership of +90.66% of the group’s capital.
Prior to the transaction, Kindred had secured an ‘irrevocable commitment’ to acquire 26.7% of Kindred’s shareholding from the Stockholm firm’s five biggest shareholders, including the 1.11% shareholding of Veralda Investments, the private fund of former Unibet founder Anders Ström.
On 22 January, FDJ’s board proposed a cash offer of SEK 130 (€11.50) per share, valuing Kindred’s business at between €2.4bn and €2.6bn.
