FDJ Proposes $2.7 Billion Acquisition of Kindred Group

The deal, unanimously supported by both boards, is set to significantly expand FDJ's international business and is expected to commence on February 19.

• French gambling giant La Française des Jeux (FDJ) has proposed to acquire online betting firm Kindred Group for approximately $2.7 billion.
• The offer represents a 24% premium over Kindred's last share price, and is unanimously supported by both boards of directors.
• Kindred Group, listed in Stockholm, operates brands such as Unibet and 32Red, and reported a revenue of $1.1 billion in 2023.
• The acquisition would increase FDJ's international business, with its share of overseas gross gaming revenue projected to rise from 6% to approximately 20%.
• The deal is subject to regulatory approval and FDJ securing the requisite capital holding, with the transaction expected to commence on February 19.

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