Kindred Group, a prominent online gambling company, has confirmed that it has received an acquisition bid from La Française des Jeux SA. If successful, this merger would establish one of Europe’s largest online gambling entities.
The board of Kindred has been diligently exploring various options since April 2023 with the intention of maximizing shareholder value. The announcement of the takeover bid is expected to be made before the opening of markets on Monday.
According to the Wall Street Journal, FDJ, based in Paris, is currently engaged in discussions to acquire Kindred for approximately $2.5 billion. FDJ is renowned for its online sports betting and gambling services, as well as its operation of France’s national lottery. In an effort to expand its reach, FDJ recently acquired Premier Lotteries Ireland, the operator of Ireland’s national lottery.
On the other hand, Kindred SE:KIND, headquartered in Malta and traded on Stockholm’s exchange, operates under nine distinct brands and provides online gambling services across Europe, North America, and Australia. As part of its strategic focus, Kindred announced its decision to withdraw from the North American market by mid-2024 in order to concentrate on its core market in Europe.
This potential merger between Kindred Group and La Française des Jeux SA holds promising prospects for the future of online gambling in Europe. Both companies bring unique strengths to the table, and if successful, the resulting entity will undoubtedly be a force to be reckoned with in the industry.
