(Boursier.com) — Following Veralda’s offer to sell 49% of its Kindred shares, or 2.4 million shares corresponding to 1.12% of outstanding shares, at a price of SEK 122.5 per share , FDJ decided to exercise the right of pre-emption linked to Veralda’s irrevocable commitment, communicated when the transaction with Kindred was announced on January 22, 2024. As a result, FDJ acquired 2.4 million shares representing 1.12 % of Kindred’s outstanding shares.
Veralda’s irrevocable commitment will continue to apply to its remaining 1.18% stake in Kindred.
On January 22, 2024, La Française des Jeux SA (FDJ) announced a tender offer recommended to holders of Swedish depository receipts (SDRs) in Kindred Group plc to tender all their SDRs in Kindred to FDJ, at a price of 130 SEK in cash per SDR (the “Offer”). FDJ obtained irrevocable commitments to accept the offer from shareholders representing 27.9% of the outstanding shares.
One of these shareholders, Veralda, which holds 2.3% of Kindred’s capital, was authorized to sell 50% of its shares after Kindred’s general meeting, which amended its statutes to allow the implementation of a mandatory withdrawal procedure on March 15.
Quoting…
On March 18, Veralda notified FDJ of its intention to sell 2.4 million of its shares, corresponding to 1.12% of Kindred’s outstanding shares, at a price of SEK 122.5 per share. FDJ decided to exercise the right to purchase these shares from Veralda at this price.
Following this purchase, FDJ owns 1.12% of Kindred’s outstanding shares and the remaining irrevocable commitments with Corvex Management LP, Premier Investissement SAS, Eminence Capital, Nordea and Veralda represent a total of 26.82% of Kindred’s outstanding shares.