ladbrokes-coral-sells-shops-to-betfred-and-stan-james

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Ladbrokes-Coral offers stores to Betfred and Stan James
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17 October 2016

Ladbrokes and Coral have accepted sell 359 stores to rival wagering companies in what they say is the "last significant obstacle" for their ₤ 2.7 bn merger.

Betfred, owned by billionaire Fred Done, will buy 322 stores and the other 37 for an overall of ₤ 55.5 m.
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Competition regulators ruled in July that Ladbrokes and Coral should offer 350-400 look for their merger to be cleared.

The Competition and Markets Authority (CMA) will now assess the shop offers, external.

Jim Mullen, the yohaig code primary executive of Ladbrokes, said: "The sale of these shops will clear the last significant hurdle to delivering on the merger with Coral and paves the method for our concentrate on completion and rapidly providing on the chances the merger offers."

The 2 bookmakers said they would seek approval from the CMA to finish the merger once they sell one more store.

Market leader
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Ladbrokes and Gala Coral are the UK's 2nd and third largest retail betting companies, behind William Hill.
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Ladbrokes has about 2,150 outlets in Britain and 77 in Northern Ireland. Coral runs 1,850 shops in Britain.

A merger between the 2 would make them the UK's largest High Street bookmaker.

However, William Hill is seeking its own tie-up with Canadian operator Amaya, owner of the PokerStars franchise, to stay up to date with the competition and reinforce its online offering.

It was extensively reported, external over the yohaig code weekend that William Hill prepares to press ahead with the ₤ 4.5 bn bet9ja's welcome offer despite misgivings from its largest shareholder.
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Ladbrokes-Coral need to sell 350-400 shops

26 July 2016

William Hill financier snubs merger plan

14 October 2016

Investors - Ladbrokes plc
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