Operator FDJ plans to acquire Kindred Group for 2.6 billion

French national gambling operator Française des Jeux (FDJ) wants to acquire large iGaming company Kindred Group for €2.6 billion (RUB 249.7 billion). This amount is 10.9 times Kindred’s underlying EBITDA (earnings before interest, taxes and amortization) in 2023.

The Board of Directors of the iGaming company unanimously supported the takeover. The proposal also received the approval of five major investors – Corvex Management, Veralda Investment and others, collectively holding 27.9% of Kindred’s shares. The transaction is subject to a number of conditions, including compliance with regulatory requirements and acceptance of the offerThe Company is a monopolist in the lottery sector, as well as in the casino and sports betting sectors. The merger will result in a stronger strategic positioning and significant value creation for the benefit of our shareholders and broader stakeholders, added Pallez.

Kindred said there are currently no decisions to make any material changes to their employees and management team or FDJ due to the takeover. It is also not expected to affect the terms and conditions of employment of new employees or the location of the business.

Niels Anden, CEO of Kindred, The total amount of gambling for 2023 reached a record 5.7 billion.


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