At a second court hearing held today, Sportingbet's proposed acquisition of Centrebet was approved by the Federal Court of Australia.
In a statement this morning, Sportingbet stated that the schemes regarding the takeover are expected to be lodged with the Australian Securities Investments Commission tomorrow (August 23), at which time they will become effective.
The schemes are now expected to be implemented on or about August 31, following which Centrebet will become a wholly-owned subsidiary of Sbet Australia. It is expected that the Centrebet ordinary shares will be suspended from quotation on the Australian Securities Exchange at the close of business tomorrow (Sydney time) and Centrebet will be removed from the official list of the Australian Securities Exchange on or shortly after August 31.
This follows approval by Centrebet shareholders and performance rightholders last week.
