GVC set to acquire Ladbrokes Coral

GVC Ladbrokes

Credits: express.co.uk

GVC Holdings PLC is close to acquire Ladbrokes Coral and the €4.5 billion deal is set to be completed by the second quarter.

UK.- 2018 could kick off with a major acquisition deal as GVC Holdings has assured it will complete the Ladbrokes Coral Group deal in the next few months. Reportedly, the operation will be completed by the end of the first quarter or the second and will be worth up to €4.5 billion.

Furthermore, Ladbrokes Coral revealed in an update released last Thursay that it will send a scheme document to its shareholders in February with details of the deal for further consideration. In addition, it plans to publish a trading update alongside the document to defer the release of its full-year result for 2017 until April.

“The boards believe that a transaction has the potential to create material shareholder value and that there is a compelling strategic rationale for the possible offer. The enlarged group would be an online-led globally positioned betting and gaming business that would benefit from a multi-brand, multi-channel strategy applied across some of the strongest brands in the sector,” both companies said in a statement released in November.