Internet betting firm Kindred has announced that they've struck an agreement with 32Red, and will purchase the casino operator for £175.6 million.
The agreement will give Kindred an important foothold in the UK betting market, as 32Red has a long history in the country. The deal will see 32Red stockholders receiving a price of £1.96 per share, while also getting an interim dividend of £0.04 per share. That price is 16.3% higher than the closing price of £1.72 as of February 22nd.
Kindred was known as Unibet until last year when they opted to change their name in order to broaden their brand. Purchasing 32Red no doubt continues that strategy, as it gives them an iconic UK online brand moving forward.
The deal will be subject to shareholder approval, and we'll update this story as the deal progresses.
Comments
As I remember, Unibet acquired iGame casino last year, and now they are expanding by adding an old and trusted casino. Good News 🙂