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Playtech confirms discussions with management consortium regarding sale of Finalto division
StockMarketWire.com
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Gambling software company Playtech has confirmed it is in 'exclusive discussions' about the possible sale of its financials division Finalto to a management consortium backed by Barinboim, Leumi Partners, The Phoenix Insurance Company and Menora Mivtachim Insurance.
It made the announcement following recent speculation in the Israeli media. The company said it had received a cash offer from the consortium of up to $200 million, of which $170 million is payable on completion and confirmed that approximately $110 million of capital required to run the business will be transferred with the business upon any sale.
Playtech has announced previously in its trading update on 12 January, that it has been continuing to evaluate all options for Finalto.
The company said: 'Whilst discussions are progressing, there can be no certainty that any transaction will be forthcoming nor on what terms it would occur.'
At 1:13pm: (LON:PTEC) Playtech PLC share price was 0p at 376.2p
Story provided by StockMarketWire.com
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