Tuesday December 15,2015 : BWIN.PARTY AND G.V.C. SHAREHOLDERS APPROVE ACQUISITION DEAL
GBP 1.2 billion merge can go ahead, subject to remaining Scheme Document conditions.
Bwin.Party Digital Entertainment and GVC Holdings issued simultaneous statements Tuesday advising the public that their respective shareholders have at separate extraordinary general meetings approved the agreement for the two groups to merge under GVC management.
The statement notes that completion of the acquisition remains subject to satisfaction or waiver of certain other conditions set out in the Scheme Document, including the sanctioning of the Scheme by the Supreme Court of Gibraltar which is scheduled to occur on 29 January 2016.
"Subject to receiving the sanction of the Court on that date, the Scheme is expected to become effective on 1 February 2016, with admission of the GVC Shares to the Standard Segment of the Official List and commencement of dealings in GVC Shares on the Main Market expected to take place on or around 8.00 a.m. on 2 February 2016," the statement advises.