In Australia today, Aristocrat revealed that Playtech shareholders had approved the sale of its financial trading division, Finalto, to meet a key condition of Aristocrat’s takeover offer.
The cash acquisition of Playtech by Aristocrat has been in the process since mid-October when the boards of both companies announced that there was a recommended offer of 680 pence for each Playtech share.
Now that Playtech has approved the disposal of its financial trading division to Gopher Investments, a condition of the Aristocrat offer has been satisfied.
The two companies are now working together to complete the acquisition. It is hoped to complete the deal by the second quarter of 2022.