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Kindred Group is an online gambling operator that...
FDJ changes Kindred acquisition date to October 2
French lottery giant La Française des Jeux, FDJ, obtained all necessary regulatory approvals from the French Competition Authority and will acquire Kindred on October 2.
Back in January this year, FDJ announced its public offer to Kindred’s shareholders to sell their SDRs to FDJ for a cash price of SEK 130 each, which is in total €2.45 billion. The offer document was published on February 19, and supplements to the offer document were made public on April 25th and July 25th.
Kindred CEO Nils Andén said at the time:
“By partnering with FDJ, I am convinced that Kindred will be able to accelerate the implementation of long-term strategic projects, continue its growth in its main markets, and offer its customers a trusted source of entertainment.”
With this acquisition, FDJ will become the second-largest gambling operator in Europe by revenue and market share. Till now, five shareholders, holding 26.72% of Kindred’s total capital, have committed to the sale, including Corvex Management LP and Premier Investment SAS.
While this move received final regulatory approval, the competition authority warned FDJ to not use its monopoly for promoting Kindred’s products and noted potential player risks from cross-selling to FDJ’s lottery customers.
The offer results will be announced on October 3.
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