Finalto sale to Gopher Investments delayed to early/mid July
Playtech plc (LON:PTEC) has issued a brief update regarding the $250 million sale of its Financial Trading division Finalto. The company stated in a regulatory filing that the proposed all-cash sale of Finalto to Gopher Investments is now expected to close early to mid July 2022.
The transaction was already approved by Playtech shareholders during Playtech’s General Meeting of Shareholders held on December 1, 2021. The company had then reported, in mid June, that it had received all required regulatory approvals for the sale of Finalto to Gopher, and that it then expected completion of the sale to occur on June 30, 2022, However it looks like some final housekeeping issues need to be sorted out before the sale can move ahead, within the next couple of weeks.
Playtech’s Financial Trading division comprises the Finalto-branded institutional services business, and Retail FX/CFDs broker Markets.com. With the acquisition, Hong Kong based Gopher will become a major player in both the B2C and B2B ends of the FX and CFDs industry. Finalto produced Revenues of €32 million in the first six months of 2021.