Goldman Sachs has acquired 5.4% of Kindred Group, becoming the Stockholm-listed firm’s third largest shareholder as of 31 May. The trade bodes well for Française des Jeux’s (FDJ) M&A of Kindred, but Netherlands regulatory risks are real threat to how the deal will be finalised.
While all eyes this week were on French politics, Goldman Sachs acquired a 5.4% stake in Française des Jeux acquisition target Kindred Group worth around €125m [$134m].
The trade, notified by Kindred this week, is not unusual according to investment contacts Gaming&Co spoke to as FDJ’s proposed €2.6bn [$2.8bn] bid for Kindred is still being evaluated.
One source commented that “Kindred trades very close to the deal price, which suggests the market thinks there is a high probability that the deal closes”.
