Wednesday February 13,2013 : WILL HILL SPORTINGBET ACQUISITION APPROVED
Aussie authorities give the go ahead
William Hill PLC and GVC Holdings PLC have been given the go ahead from the Northern Territories Commission and the Australian Foreign Investment Review Board regarding ownership of the Sportingbet Australian business saying conditions of the offer have been satisfied.
In related news, William Hill Australia and GVC announced that the see-through cash value to be attributed under the Offer to the Sportingbet Convertible Bonds is being revised to GBP141,000 (previously GBP134,146) for each GBP 100,000 in principal amount of Sportingbet Convertible Bonds held. The aggregate value of this revision is approximately GBP 5.5 million.
The Sportingbet Shareholder General Meeting and the Bondholder General Meeting for Sportingbet Convertible Bondholders will be held on February 21, 2013 as the next step in the process.