888 aims to complete the acquisition of William Hill in the second quarter of 2022
888 Holdings provides for the full completion of his Guillaume Hill and William Hill International the buyback will take place in the second quarter of 2022.
The acquisition, who will see 888 the buyout of Hill’s non-U.S. assets will also see the international gambling group issuing a combined circular and prospectus for the acquisition and capital increase, with a shareholder vote to follow.
The capital increase was previously described by 888 with the aim of generating £ 500million in gross proceeds by issuing new shares, and is expected to be completed before the William Hill takeover is finalized.
888 entered the final stages of preparations for its acquisition of retail and online betting and gaming operator William Hill last month, after securing mandatory regulatory antitrust and pre-completion clearances. games – however, the merger was originally slated for Q1 2022.
Commenting on developments at the time of regulatory approvals, CEO of 888, Itai pazner, said: “This transaction will create one of the world’s leading online betting and gaming groups with superior scale, advanced technology, increased diversification and a high growth platform, supported by a portfolio of iconic brands. ”
888 Holdings was successful in securing William Hill’s non-U.S. Assets from William Hill’s new owner, Caesars Entertainment – who had made clear their intention to sell all of William Hill’s non-U.S. Divisions when finalizing their own acquisition earlier in the year – with a £ 2.2 billion auction on September 9.
Although 888 has now taken another step to significantly strengthen its presence in the UK and internationally by acquiring William Hill, it is not known whether the company will continue to retain control of the wide range of outlets. of its new subsidiary.