(Sharecast News) - Playtech announced on Wednesday that it has received all of the required regulatory approvals for the all-cash sale of its financial trading division Finalto, to Gopher Investments.
The FTSE 250 company's shareholders approved the transaction at a general meeting on 1 December.
In line with the sale and purchase agreement with Gopher Investments, the firm said it now expected completion to occur on 30 June.
"The completion of the transaction is a significant step in Playtech's stated strategy to simplify the group and to focus on its technology led offering as a pure-play business in the high growth B2B and B2C gambling markets," the board said in its statement.
At 0942 BST, shares in Playtech were up 3.75% at 526p.
Reporting by Josh White at Sharecast.com.
Playtech (PTEC)