FDJ Has Acquired 1.12% of Kindred’s Outstanding Shares From Veralda at a Price of 122.5 SEK Per Share
29 March 2024 - 4:19AM
Business Wire
Regulatory News:
Following an offer notice received from Veralda to sell 49% of
its shares, 2.4m shares corresponding to 1.12% of the outstanding
shares in Kindred, at 122.5 SEK, FDJ (Paris:FDJ) has decided to
exercise the right of first refusal forming part of Veralda’s
irrevocable undertaking and disclosed at the time of the Kindred
transaction announcement on January 22nd, 2024.
As a result, FDJ has acquired 2.4m shares representing 1.12% of
Kindred’s outstanding shares and Veralda’s irrevocable undertaking
will continue to apply to Veralda’s remaining 1.16% stake in
Kindred.
On January 22nd, 2024, La Française des Jeux SA (“FDJ”),
announced a recommended public offer to the holders of Swedish
depository receipts (the “SDRs”) in Kindred Group plc (together
with its subsidiaries “Kindred” or the “Company”) to tender all
their SDRs in Kindred to FDJ at a price of 130 SEK in cash per SDR
(the “Offer”). For the sake of simplicity and because each SDR
represents a share in Kindred, the SDRs will also be referred to as
“shares” and the holders as “shareholders”.
As previously communicated, FDJ has obtained irrevocable
undertakings to accept the Offer from shareholders representing
27.9% of the outstanding shares. One of these shareholders,
Veralda, representing a 2.3% stake in Kindred, was allowed to sell
50% of its shares after Kindred’s March 15th, 2024, general meeting
amending its bylaws to provide for squeeze-out rights of an
offeror. If Veralda decided to sell its shares, it undertook to
first offer FDJ the possibility to buy the shares at a price not
higher than the price in the Offer of 130 SEK per Share.
On March 18th, 2024, Veralda notified FDJ of its intention to
sell 2.4m of its shares, corresponding to 1.12% of the outstanding
shares in Kindred, at a price of 122.5 SEK per share. FDJ has
decided to exercise the right to buy these shares from Veralda at
such price.
After this purchase, FDJ holds 1.12% of the outstanding shares
in Kindred and the remaining irrevocable undertakings with Corvex
Management LP, Premier Investissement SAS, Eminence Capital, Nordea
and Veralda represent in total 26.82% of the outstanding shares in
Kindred.
The offer documentation, which includes detailed descriptions of
the irrevocable undertakings, is available in English and Swedish
on the FDJ Group website:
https://www.groupefdj.com/en/fdj-launches-a-tender-offer-for-kindred-to-create-a-european-gaming-champion/
About FDJ Group
France's leading gaming operator and one of the industry leaders
worldwide, FDJ offers responsible gaming to the general public in
the form of lottery games (draws and instant games), sports betting
(through its ParionsSport point de vente et ParionsSport en ligne
brands), horse-race betting and poker. FDJ's performance is driven
by a large portfolio of iconic brands, the leading local sales
network in France, a growing market, and recurring investments. The
Group implements an innovative strategy to increase the
attractiveness of its gaming and service offering across all
distribution channels, by offering a responsible customer
experience. FDJ Group is listed on the regulated market of Euronext
Paris (Compartment A – FDJ.PA) and is part of the SBF 120, Euronext
100, Euronext Vigeo 20, EN EZ ESG L 80, STOXX Europe 600, MSCI
Europe and FTSE Euro indices.
For more information, visit www.groupefdj.com
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Media Contact 01 41 10 33 82 |
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Investor Relations Contact 01 41 04 19 74 |
invest@lfdj.com
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