Kindered takes over 32Red
23rd of February, 2017 turned out to be a day to remember for Kindred, after they announced the £175.6 million deal to obtain 32Red – a well-known online gaming operator.
196p per share is the valuation of the entire shareholder capital of 32Red in order to be acquired. Shareholders will also receive an additional interim dividend of 4p per share by the end of next month.
Recognized as both reasonable and fair, the offer is accepted by the acquired company’s directors, who have used the valuable advice of Numis before the bit was closed.
Definitely this one is not the first takeover in former Unibet Group’s history. In 2015 Kindred acquired another two companies – iGame and Stan James. Currently they can be proud to be named one of the leading online casino providers in Europe.
Ed Ware, 32Red Casino chief executive announced that they have made their best efforts to grow the company’s market shares in UK, as well as in Italy, recently. On the other hand he also ensured the public that Kindred’s business philosophy is very close to the one they follow themselves and the merge announced was something 32Red was looking for some time now. Their intention is to continue the growth within the Kindred Group and to show even more remarkable results in the future.
In addition, Henrik Tjärnström – Kindred’s chief executive – made the statement that acquiring 32Red is part of their strategy to build a multi-brand and represents their desire to grow on the already regulated markets (as well as on those that will soon be regulated). He also agrees with the announcement that the two companies share similar business strategy and “way of thinking”. Another important point that he does not misses to make is that 32Red is recognized by Kindred as a high quality business, mostly focused on the customer experience, which makes it a valuable asset to be acquired.