Barinboim Group “welcomes” Playtech shareholder vote delay on Finalto sale
Playtech’s delay of its shareholder vote came about after a late competing bid emerged for Finalto from Gopher Investments.
Playtech’s delay of its shareholder vote came about after a late competing bid emerged for Finalto from Gopher Investments.
Playtech wants to “further consider recent developments” including the competing $250 million offer for Finalto by TT Bond Partners.
TT Bond Partners is urging the Playtech Board to cancel the planned shareholder vote next week and to engage more closely with it.
Gopher Investments has made a $250M competing offer to buy the Financials division of Playtech, consisting o Finalto and Markets.com.
It will be interesting to see if shareholders rubber stamp the deal – Playtech shareholders have mounted small revolts in the past.
Buying Finalto is Zvika Barenboim’s Barenboim Group with backing from Leumi Partners Limited and Menora Mivtachim Insurance.
Finalto’s revenues of €87.3 million in H1 2020 declined by over 60% to €34.6 million in H2 2020.
The Cyprus based Elena Christodoulou had been Country Manager – Germany for Tickmill for the past four years.
The acquiring group is made up of Israeli entrepreneur Zvika Barenboim, Bank Leumi, and insurance concerns Menora and Phoenix.
Playtech continues to be in discussions regarding the possible sale of its financials division, Finalto, including the Markets.com brand.