FDJ Completes Tender Offer for Kindred

Today gaming group La Française des Jeux (FDJ) announced that they've completed their tender offer of online gaming operator Kindred Group, taking in 90.66% of the company's shares for €2.5 billion.

The company had previously acquired 2.4 million Swedish Depository Receipts from Veralda and picked up 195.7 million SDRs during the offer period. With this control, FDJ will attempt to acquire the remaining shares and has extended their offer period until October 18th, wherein outstanding shareholders can still sell their shares for SEK 130 ($12.60 USD) per share.

Kindred owns the major gaming brands 32Red, Unibet, Maria Casino, Bingo.com, and others. The move would make FDJ a major player in the online betting industry as a whole. Right now, FDJ oversees lottery and sportsbetting businesses in Ireland and France, making this a major expansion for the group.

Regarding the purchase, FDJ Group CEO Stephane Pallez said: "Kindred has strong brands, recognised technological excellence and an attractive growth and profitability profile, all of which will bolster FDJ's strengths. The two groups also share high standards for responsible gaming and a business model that combines performance and responsibility. This acquisition creates a new European champion that intends to pursue its strategy of sustainable and profitable growth for the benefit of all its stakeholders."

Casino Listings News is following this story and will update readers as we learn more.

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