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Pari-Mutuel Urbain Purchases Majority Stake in German Tote

French horse racing firm Pari-Mutuel Urbain has revealed that it has purchased a majority stake in Die German Tote Service- und Beteiligungs GmbH.

The deal brings together the long time partners together, and will allow the German betting firm to expand their services while promoting horse racing in their home country. The consideration paid in the deal was announced as of press time.

Commenting on the deal PMU President and CEO Xavier Hurstel said, "The acquisition of the German Tote is an opportunity which allows PMU to become an operator in Germany, and become a part of its equestrian tradition of which we nourish great ambitions and whose betting market offers strong development potential."