GVC offers £900m for BwinParty

By David Cook
Online gaming group GVC Holdings is reported to have bid just over £900m to acquire operator BwinParty.

Sources have told the Financial Times that the offer values shares in BwinParty at around 110p a share.

GVC confirmed in May that “it has submitted a proposal with a view to the group acquiring the entire issued and to be issued share capital of BwinParty”.

A further announcement was made four days later, confirming that the proposal would be jointly financed by GVC and provider Amaya Gaming.

Operator 888 Holdings also confirmed in May that it has made an offer to acquire BwinParty.

GVC said in a trading statement: “Talks with BwinParty are continuing, although there can be no certainty that such talks will result in an offer being made. GVC will provide a further update for shareholders as and when appropriate.”

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