La Française des Jeux (FDJ), a key participant in the European lottery and sports activities betting trade, has introduced the profitable acquisition of Kindred Group, a notable operator in the web betting and gaming market. This vital transaction marks a milestone in FDJ’s enlargement technique, additional solidifying its presence in the aggressive European gaming panorama.
Substantial shareholder participation in the tender supply:
As of October 2, the time limit of the supply interval, FDJ has secured 90.66% of Kindred Group’s shares by way of the tender of 195,659,291 Swedish Depositary Receipts (SDRs). This substantial acquisition additionally included a direct buy of 2,400,000 SDRs from Veralda, representing an extra 1.11% of Kindred’s capital. Having surpassed the 90% management threshold, FDJ will proceed with the acquisition and implement a squeeze-out process to delist Kindred from Nasdaq Stockholm.
To accommodate shareholders who’ve but to tender their shares, FDJ has prolonged the supply interval till October 18, 2024, sustaining the acquisition value at SEK 130 per SDR. This extension supplies a closing alternative for remaining shareholders to take part underneath the continued phrases, with the settlement for these shares scheduled for October 29.
Kindred Group, recognized for its robust portfolio of manufacturers resembling Unibet and 32Red, has a strong presence in a number of high European markets, together with the Netherlands, the United Kingdom, France, Sweden, and Belgium. The acquisition considerably enhances FDJ’s aggressive choices, significantly in on-line sports activities betting and gaming—a sector the place Kindred excels.
Financial and operational synergies:
The deal, valued at nearly €2.5 billion, creates a diversified European gaming chief, mixing FDJ’s monopoly-based actions in lotteries with Kindred’s aggressive on-line betting operations. The new conglomerate is anticipated to derive roughly 26% of its income from worldwide markets, with on-line gaming contributing about 27% to its total enterprise actions.
Stéphane Pallez, Chairwoman and CEO of FDJ expressed enthusiasm concerning the acquisition, stating in a press release: “I am pleased to announce today the acquisition of Kindred, a leading European player in competitive online betting and gambling. Kindred has strong brands, recognized technological excellence, and an attractive growth and profitability profile, which will strengthen FDJ’s strengths. The two groups also share high standards in terms of responsible gaming and a business model combining performance and responsibility. This acquisition creates a new European champion that intends to pursue its strategy of sustainable and profitable growth for the benefit of all its stakeholders.”
The acquisition obtained the inexperienced gentle from regulatory our bodies, together with the French Competition Authority, earlier this 12 months, setting the stage for a seamless integration of Kindred’s operations into FDJ’s broader technique. This strategic transfer is aligned with FDJ’s give attention to increasing its affect throughout Europe’s extremely aggressive on-line gaming market.
