Playtech held a general meeting on Wednesday as its shareholders approved the acquisition of its financial business Finalto by the Hong Kong-based Gopher Investments.
Playtech said in an official announcement:
Playtech is pleased to announce that the ordinary resolution set out in the Notice of General Meeting to approve the Disposal was duly passed today, on a poll vote, by Playtech’s shareholders.
The two companies agreed that Gopher will acquire Finalto in a $250 million all-cash deal. Following the shareholder approval, the transaction is expected to close in the second quarter of 2022.
The London-listed company Playtech is also in the process of getting acquired by Australia’s Aristocrat Leisure for $3.7 billion. The companies signed a definitive agreement and Playtech’s shareholders will vote on it on 12 January 2022.
Trevor Croker, Aristocrat’s CEO and Managing Director, commented:
The approval given by Playtech shareholders to dispose of Finalto meets a condition of Aristocrat’s recommended offer and is a further step forward in the completion process.
Aristocrat’s offer for Playtech has been recommended by the Playtech Board, and is the only offer on the table for shareholders. We believe that Aristocrat’s offer provides an attractive value and enhanced regulatory and financial certainty for Playtech shareholders, while the combined group will also provide greater opportunities for Playtech employees in a leading global organization.
JKO Play Limited has also recently shown interest and has made a preliminary inquiry. Gopher is also among the companies who showed interest in the acquisition of Playtech but soon after withdrew its interest.
