Swedish regulator approves Française des Jeux’s takeover bid for Kindred

Lea Hogg 2 months ago
Swedish regulator approves Française des Jeux’s takeover bid for Kindred

The Swedish Financial Supervisory Authority (SFSA) has approved the offer document relating to FDJ’s takeover bid. This approval marks a significant milestone in the acquisition process, paving the way for FDJ to proceed with its ambitious plans.

La Française des Jeux (FDJ), the second-largest lottery operator in Europe, has announced its intention to acquire Kindred Group, a leading online betting and gaming operator known for its Unibet brand. This move signifies a major shift in the online gaming landscape, as FDJ expands its reach beyond its traditional lottery base.

The takeover bid is set to open on 20 February and will last for a maximum period of 39 weeks. This extended timeframe provides ample opportunity for all regulatory approvals to be obtained and for FDJ to acquire at least 90 percent of Kindred’s capital. The 90 percent threshold is a critical factor in the acquisition, as it would give FDJ the controlling stake in Kindred Group.

Kindred Group’s Extraordinary General Meeting, scheduled for 15 March, will be a pivotal event in this acquisition process. The meeting will vote on a change to the company’s bylaws that would allow for a compulsory buyback of the remaining shares once the 90 percent shareholding threshold has been reached. This provision ensures that FDJ can gain complete control over Kindred Group, enabling a smooth integration of the two companies.

Potential game-changer in online betting

The acquisition of Kindred Group by FDJ is a strategic move that could reshape the landscape of the online betting and gaming industry. Kindred Group, with its Unibet brand, has a strong presence in the online betting market, offering a wide range of products including sports betting, poker, casino, and other games. By acquiring Kindred Group, FDJ can diversify its product offerings, expand its customer base, and strengthen its position in the online gaming market.

However, the completion of this acquisition remains subject to obtaining regulatory approvals. The online gaming industry is heavily regulated, and any major acquisition such as this one requires the approval of multiple regulatory bodies. FDJ will need to demonstrate that the acquisition of Kindred Group will not result in an unfair competitive advantage and that it will continue to comply with all relevant regulations.

FDJ’s proposed acquisition of Kindred Group represents a significant development in the online betting and gaming industry. If successful, this acquisition will create a powerful new player in the market, capable of offering a diverse range of gaming options to customers around the world. As the takeover bid opens and the acquisition process unfolds, all eyes will be on FDJ and Kindred Group, watching to see how this major industry shakeup plays out.

Stop Press: the next SiGMA Eurasia Summit takes place in Dubai between 25 – 27 FebruaryThe next SiGMA Africa Summit takes place in Cape Town between 11-13 March !

The fourth edition of SiGMA Eurasia will once again be held at the InterContinental Dubai Festival City. Held between the 25 and 27 February 2024, the summit provides invaluable networking opportunities for industry professionals, gain exposure to the latest tech and innovations in the sector, meet key decision makers, and gain insight into new markets

SiGMA Africa event kicks off in Cape Town, South Africa on the 11 March. Building on the success of its inaugural edition in Nairobi, Kenya, in January 2023, SiGMA Group recognizes the need to foster collaboration and innovation within the industry.

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