9 Jul 2015 07:09
GVC Holdings PLC
("GVC" or the "Group")
Offer discussions with bwin.party digital entertainment plc ("bwin.party")
GVC notes today's announcement made by bwin.party and confirms that it has made a proposal to acquire all of the outstanding and to be issued share capital of bwin.party at a price of 110 pence per bwin.party share, comprised of a combination of new GVC shares and cash. GVC looks forward to working with bwin.party and its advisers with a view to securing acceptance of its proposal and, in turn, making an offer to bwin.party shareholders.
There can be no certainty that an offer for bwin.party will be made. GVC will provide a further update for shareholders as and when appropriate.
Kenneth Alexander, Chief Executive of GVC Holdings plc, said: "Any offer made by GVC for bwin.party would include part of the consideration in new GVC shares. Based on our experience with the successful Sportingbet acquisition and restructuring, we believe that the potential combination of GVC and bwin.party would result in substantial financial and operating synergies and represent an excellent opportunity for both GVC and bwin.party shareholders."
For further information:
GVC Holdings PLC | |
Kenneth Alexander, Chief Executive | Tel: +44 (0) 1624 652 559 |
Richard Cooper, Group Finance Director | www.gvc-plc.com |
Cenkos Securities plc (Nomad & Broker) | Tel: +44 (0) 20 7397 8900 |
Mark Connelly, Stephen Keys, Callum Davidson |
Media enquiries:
Bell Pottinger | Tel: +44 (0) 20 3772 2500 |
David Rydell, James Newman, Laura Jaques | |
About GVC Holdings PLC
GVC Holdings PLC is a leading e-gaming operator in both b2c and b2b markets. Its core brands are CasinoClub, Betboo and Sportingbet. The Group has over 700 employees/consultants and is headquartered in the Isle of Man and has licenses in Malta, Denmark, UK, South Africa, Alderney and the Dutch Caribbean.
Further information on the Group is available at www.gvc-plc.com.