Playtech has issued a response to Gopher Investments’ latest statement regarding the sale of Finalto. The company has reaffirmed its recommendation to sell its financial business unit to the Consortium led by the Barinboim Group. The online gaming and sports betting software provider stated that its goal to “simplify” its business and “dispose of Finalto for the maximum available proceeds” remains the same.
Following Gopher’s sudden proposal to buy Finalto for $250 million, just ahead of final shareholder vote, Playtech adjourned its meeting. The company has already signed a binding agreement with the Consortium.
However, with the Consortium’s consent, Playtech sent Gopher questions regarding the ownership of the company, its structure and source of funds as a basic due diligence in assessing their proposal.
In the beginning of the week, Playtech announced that it Gopher’s proposal remains uncertain and confirmed its recommendation for the sale of Finalto. The company urged its shareholders to vote in favor in a supplementary circular and provided a new date for its previously adjourned general meeting, now to be held on 18 August 2021.