La Française des Jeux (FDJ), a key participant within the European lottery and sports activities betting trade, has introduced the profitable acquisition of Kindred Group, a notable operator within the on-line betting and gaming market. This important transaction marks a milestone in FDJ’s enlargement technique, additional solidifying its presence within the aggressive European gaming panorama.
Substantial shareholder participation within the tender supply:
As of October 2, the deadline of the supply interval, FDJ has secured 90.66% of Kindred Group’s shares by means of the tender of 195,659,291 Swedish Depositary Receipts (SDRs). This substantial acquisition additionally included a direct buy of two,400,000 SDRs from Veralda, representing a further 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 worth at SEK 130 per SDR. This extension supplies a remaining alternative for remaining shareholders to take part underneath the continuing phrases, with the settlement for these shares scheduled for October 29.
Kindred Group, identified for its robust portfolio of manufacturers akin to Unibet and 32Red, has a strong presence in a number of high European markets, together with the Netherlands, the UK, 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.
Monetary and operational synergies:
The deal, valued at virtually €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 brand new conglomerate is anticipated to derive roughly 26% of its income from worldwide markets, with on-line gaming contributing about 27% to its general enterprise actions.
Stéphane Pallez, Chairwoman and CEO of FDJ expressed enthusiasm in regards to the acquisition, stating in a press launch: “I’m happy to announce right now the acquisition of Kindred, a number one European participant in aggressive on-line betting and playing. Kindred has robust manufacturers, acknowledged technological excellence, and a beautiful development and profitability profile, which can strengthen FDJ’s strengths. The 2 teams additionally share excessive requirements by way of accountable gaming and a enterprise mannequin combining efficiency and accountability. This acquisition creates a brand new European champion that intends to pursue its technique of sustainable and worthwhile development for the good thing about all its stakeholders.”
The acquisition acquired the inexperienced mild from regulatory our bodies, together with the French Competitors 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 concentrate on increasing its affect throughout Europe’s extremely aggressive on-line gaming market.
