20 Aug 2012 15:30
20 August 2012
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The Rank Group Plc ("Rank" or the "Company")
Proposed acquisition of Gala Casinos Limited ("Gala Casinos")
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Rank's Response to Office of Fair Trading AnnouncementΒ
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On 12 May 2012Β Rank announced that it had conditionally agreed to acquire Gala Casinos from Gala Coral Group Limited for a total cash consideration of Β£205 million (the "Acquisition"). The acquisition was conditional upon the approval of Rank shareholders (which approval was obtained at a general meeting of Rank held on 26 July 2012) and upon receipt of UK merger control clearance.
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The Office of Fair Trading has today announced that it has referred the Acquisition to the Competition Commission.
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Rank is considering the implications of this decision and a further announcement will be made in due course.
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www.rank.com
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Enquiries:
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The Rank Group Plc
Philip Munn, investor relations 01628 504 149
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Evercore Partners Limited
Edward Banks 020 7268 2700
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FTI Consulting
Marc Cohen 020 7831 3113
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