Ladbrokes Coral Merger Approved By Cma

LADBROKES CORAL MERGER APPROVED BY CMA

26th October, 2016 at 19:55:11
Source: http://www.azonlinecasinos.com

Following divestment of retail betting properties.

Ladbrokes plc and Coral welcomed the Competition & Markets Authority (CMA) decision Wednesday which gave final approval on their merger deal.

In addition, the CMA approved the disposal of 322 shops to Betfred, 37 to Stan James and one shop to Bet21 (see previous reports), a divestment condition required by the CMA for the merger to go ahead.

"I am delighted that the CMA has given approval to our merger with Coral," Jim Mullen, chief executive of Ladbrokes said. Both businesses are approaching the merger with good momentum and we are now focusing on completing the merger and delivering on the opportunities it offers."

Carl Leaver, chief executive officer of Gala Coral added: "The final hurdle has now been cleared and we can begin to realise the significant value available to both company's shareholders."

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