Shareholders in GVC Holdings PLC (LON:GVC) and bwin.party Digital Entertainment Plc (LON:BPTY), owner of CFD and spread betting broker InterTrader, will vote on the proposed $1.7 billion acquisition of bwin.party at meetings to be held on December 15, 2015.
The boards of GVC and bwin.party announced today that the circular in relation to the Scheme of the deal and a prospectus in relation to the new ordinary shares in the capital of GVC to be allotted and issued to the shareholders of bwin.party pursuant to the offer have been published.
The GVC General Meeting will be held on 15 December 2015 at 10.30 a.m. (London time) at the offices of DQ Advocates Ltd, The Chambers, 5 Mount Pleasant, Douglas, Isle of Man IM1 2PU. At the meeting, GVC Shareholders will vote on the resolutions required to approve and implement the offer and related matters.
Shareholders in bwin.party will vote at a Court Meeting and a General Meeting, with each to be held at The Sunborn Hotel, Ocean Village, Gibraltar GX11 1AA on 15 December 2015. The bwin.party Court Meeting will start at 9 a.m. (Gibraltar time) and the bwin.party General Meeting at 9.15 a.m. (Gibraltar time), or as soon thereafter as the bwin.party Court Meeting has concluded or has been adjourned.
The completion of the offer is also conditional upon:
- the satisfaction of certain anti-trust and regulatory conditions;
- receipt of a decision from the UKLA regarding ordinary share capital of GVC.
The deal has already received some regulatory approvals, including:
- approval in principle from the Gibraltar Gaming Commissioner and the Malta Gaming Authority;
- approvals from the UK Financial Conduct Authority (FCA) in connection with the change of control of bwin.party’s Kalixa payments business;
- approval from the Gibraltar Financial Services Commission in respect of the bwin.party’s InterTrader’s CFD and spread betting business;
- merger clearance from the German Federal Cartel Office.
To view the official announcement from GVC Holdings, click here.