The sale of 53 per cent of Ainsworth Game Technology to Novomatic is to be scrutinised by Australia’s Takeover Panel, which resolves company acquisition disputes.
The Australian Securities and Investment Commission has lodged a rare application with the panel, querying whether Len Ainsworth’s sale of the shares should preclude his wife’s shareholding.
Gretel Ainsworth holds 8.9 per cent of the company. The commission believes that Gretel Ainsworth’s holding might be used to push through the sale when shareholders decide the issue next month.
Len Ainsworth is selling 172.1 million shares in AGI to Novomatic for AU$473.275 (€306m).
