Bwin.party admits to takeover talks
Operator confirms it has entered into discussions over a "variety of potential business combinations"
Bwin.party today confirmed speculation it is in preliminary talks over the sale all or part of the business and said discussions were taking place with “a number of interested parties”.
The company released a statement to the market stating that “variety of potential business combinations” were being discussed, however added that there is no certainty that a deal will be struck.
Speculation over the future of bwin.party, whose share price has dropped significantly over the course of the past 12 months, has been building over the past few months with a sale or floatation of its B2B payments arm and the sale of its grey market business two possibilities mooted.
The interested parties have not been confirmed however eGR understands at least one private equity firm has taken a detailed look at the business.
Other reports have suggested Amaya Gaming, the owner of PokerStars and Full Tilt, are in the running to launch an audacious takeover bid for the entire group.
Bwin.party’s share price was up almost 13% today to 120.7p at the time of writing.
The company’s statement in full read: “Further to recent media speculation regarding a possible bid for bwin.party, the Board of bwin.party confirms that it has entered into preliminary discussions with a number of interested parties regarding a variety of potential business combinations with a view to creating additional value for bwin.party shareholders.
“Such discussions may or may not result in an offer being made for the Company. However, as all such discussions remain at a preliminary stage, there can be no certainty as to whether or not they will result in any form of transaction with any party.”
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