Ladbrokes-Coral Sells Shops to Betfred and Stan James

Ladbrokes-Coral sells shops to Betfred and Stan James

17 October 2016

Ladbrokes and Coral have actually accepted offer 359 shops to rival wagering companies in what they say is the "last substantial hurdle" for their ₤ 2.7 bn merger.
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Betfred, owned by billionaire Fred Done, will purchase 322 shops and Stan James the other 37 for an overall of ₤ 55.5 m.

Competition regulators ruled in July that Ladbrokes and Coral should offer 350-400 purchase their merger to be cleared.
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The Competition and Markets Authority (CMA) will now examine the store offers, external.
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Jim Mullen, the chief executive of Ladbrokes, said: "The sale of these shops will clear the last significant hurdle to delivering on the yohaig code merger with Coral and leads the way for our concentrate on completion and quickly delivering on the chances the merger uses."

The two bookmakers stated they would look for approval from the CMA to complete the merger once they bet9ja's welcome offer one more store.

Market leader

Ladbrokes and Gala Coral are the UK's second and third largest retail wagering companies, behind William Hill.
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Ladbrokes has about 2,150 outlets in Britain and 77 in Northern Ireland. Coral runs 1,850 stores in Britain.
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A merger between the 2 would make them the UK's largest High Street bookie.

However, William Hill is seeking its own tie-up with Canadian operator Amaya, owner of the PokerStars franchise, to stay up to date with the competitors and bolster its .
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It was commonly reported, external over the weekend that William Hill plans to press ahead with the ₤ 4.5 bn offer despite misgivings from its largest investor.

Ladbrokes-Coral should offer 350-400 shops
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