Australian treasurer approves Paddy Power's Sportsbet takeover

Irish bookmaker Paddy Power plc has received approval from the Treasurer of the Commonwealth of Australia, connected with the Australian Foreign Investment Review Board, to purchase the remaining 39.2% minority shareholding in Sportsbet Pty Ltd.

An extraordinary general meeting will be held on 22 February 2011 to cover the only remaining condition to the acquisition, the approval of Paddy Power's shareholders.

Source: InfoPowa News

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