Playtech’s proposed acquisition of AvaTrade gets called off

A hectic day on the Forex M&A front, and a very heavy day for Playtech PLC (LON:PTEC)…

After Playtech announced a termination of its agreement with Plus500 Ltd (LON:PLUS) earlier today, the company saw another proposed acquisition – that of CFD and Forex broker AvaTrade, called off.

Playtech’s Board has just announced that the shareholders of Ava Trade Ltd. (AvaTrade) have terminated the share purchase agreement relating to the acquisition of Ava Trade.

Playtech said it will not incur any financial penalties other than forfeiting the previously announced $5m non-refundable deposit already paid by Playtech on the signing of the acquisition.

In the face of these recent developments, Playtech plans to continue to appeal the decision of the Central Bank of Ireland which opposes its application to acquire Ava Trade.

To view the official announcement from Playtech on the agreement termination, click here.

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