Will Hill Sportingbet Acquisition Approved

WILL HILL SPORTINGBET ACQUISITION APPROVED

13th February, 2013 at 06:15:17
Source: http://www.azonlinecasinos.com

Aussie authorities give the go ahead

William Hill PLC and GVC Holdings PLC have been given the go ahead from the Northern Territories Commission and the Australian Foreign Investment Review Board regarding ownership of the Sportingbet Australian business saying conditions of the offer have been satisfied.

In related news, William Hill Australia and GVC announced that the see-through cash value to be attributed under the Offer to the Sportingbet Convertible Bonds is being revised to 141,000 (previously 134,146) for each 100,000 in principal amount of Sportingbet Convertible Bonds held. The aggregate value of this revision is approximately 5.5 million.

The Sportingbet Shareholder General Meeting and the Bondholder General Meeting for Sportingbet Convertible Bondholders will be held on February 21, 2013 as the next step in the process.

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