Oct 25 (Reuters) - Britain's Caledonia Investments Plc is set to buy a chain of bingo halls from gaming groupGala Coral for 240 million pounds ($367.46 million), Sky Newsreported on Sunday.
The deal, which would include more than 130 Gala bingo clubsand a 30 percent market share, is expected to be announced onMonday, the multimedia news website said, citing sources. (http://bit.ly/1H3kT0q)
Gala Coral's rival, Mecca Bingo, owned by Rank Group Plc, was not interested in buying Gala's estate, Sky Newssaid.
Gala Coral sealed an all-share merger deal with bookmakerLadbrokes Plc in July, creating a 2.3 billion poundbetting group that will seek to build on its dominance ofBritain's high streets, or main streets, to expand its onlinebusiness.
This move would come on the heels of a 900-million-poundmerger between online company 888 Holdings Plc and rivalBwin.party Digital Entertainment Plc.
Caledonia Investments and Gala Coral could not be reachedimmediately for comments outside regular business hours. ($1 = 0.6531 pounds) (Reporting by Rishika Sadam in Bengaluru; Editing by JeffreyBenkoe)
Rank (RNK)
Caledonia (CLDN)