French Gambling Giant FDJ Completes €2.5bn Kindred Group Purchase
FDJ has gotten shareholder approval for its €2.45bn ($2.7bn) takeover of the Kindred Group. [Image: Shutterstock.com]
France’s biggest gambling company has completed its €2.45bn ($2.7bn) purchase of the Kindred Group. La Française des Jeux (FDJ) confirmed on Thursday that it now controls the NASDAQ Stockholm-listed group after at least 90% of shareholders gave the deal their blessing.
The new entity will be the second-biggest gambling operator in Europe.
FDJ initially submitted its takeover bid in January, and the transaction went through the relevant regulatory approvals and other typical closing conditions before the shareholder vote. The new entity will be the second-biggest gambling operator in Europe.
FDJ Chairperson and CEO Stéphane Pallez believes the acquisition will help drive profitable growth, and Kindred’s portfolio of “strong brands” and “recognized technological excellence” will improve FDJ’s existing operations.
Brands in the Kindred Group portfolio include 32Red, Unibet, and Bingo.com; some of its main markets include the UK, Sweden, and the Netherlands.
64% of the merged company will be made up of FDJ’s French monopoly in retail sports betting and lottery products. Another 30% will relate to Kindred’s online gambling operations and 4% will be international lottery operations. The remaining 2% is for payment and services verticals.
