Centrebet is now a wholly-owned subsidiary of Sportingbet Australia.
Sportingbet announced a recommended proposal on May 26 to acquire the entire issued and to be issued share capital of Centrebet effected by way of two schemes of arrangement under Australian law.
Following the approval by Centrebet shareholders and performance rightholders on August 17 and by the Federal Court of Australia on August 22, the board of Sportingbet announced this morning that the schemes have today been implemented and Centrebet is now a wholly-owned subsidiary of Sportingbet Australia.
In addition, Centrebet ordinary shares were suspended from quotation on the Australian Securities Exchange on August 23 and an application to remove Centrebet from the official list of the Australian Securities Exchange was made today.
Sportingbet CEO Andrew McIver commented: "We are delighted to have completed the acquisition of Centrebet." He added: "This transaction highlights the Sportingbet Group’s strategy of increasing its proportion of revenue generated from regulated markets and of geographic diversification."
