Kambi says it has “eliminated the prospect” of Kindred taking a “controlling influence” over the group by repaying a €7.5m convertible bond previously held by Kindred.
The bond was established as part of Kambi’s spin-off from Kindred in 2014 and Kambi last year revealed it had secured the right to repay it when it deemed fit. Kindred could have converted the bond into shares.
Kambi added in a statement that the repayment means it will “no longer be required to seek prior consent from Kindred for certain events” and that the repayment of the bond has “no impact” on the two groups’ partnership.
Kambi and Kindred renewed their collaboration in 2022, with the extension running until 2026.
