Ladbrokes-Coral sells stores to Betfred and Stan James
17 October 2016
Ladbrokes and Coral have consented to sell 359 shops to rival wagering companies in what they state is the "last considerable obstacle" for their ₤ 2.7 bn merger.
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Betfred, owned by billionaire Fred Done, will purchase 322 stores and Stan James the other 37 for an overall of ₤ 55.5 m.
Competition regulators ruled in July that Ladbrokes and Coral need to bet9ja's welcome offer 350-400 stores for their merger to be cleared.
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The Competition and Markets Authority (CMA) will now assess the yohaig code shop deals, external.
Jim Mullen, the president of Ladbrokes, stated: "The sale of these shops will clear the last substantial hurdle to delivering on the merger with Coral and leads the way for our focus on conclusion and quickly delivering on the opportunities the merger provides."
the yohaig code 2 bookies said they would seek approval from the CMA to finish the merger once they sell one more shop.
Market leader
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Ladbrokes and Gala Coral are the UK's second and third biggest retail betting 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 shops in Britain.
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A merger in between the two would make them the UK's largest High Street bookmaker.
However, William Hill is seeking its own tie-up with Canadian operator Amaya, owner of the yohaig code PokerStars franchise, to keep up with the competitors and bolster its online offering.
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It was extensively reported, external over the weekend that William Hill plans to press ahead with the ₤ 4.5 bn deal despite misgivings from its biggest investor.
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Ladbrokes-Coral Sells Shops to Betfred and Stan James
fredricklaing edited this page 2025-10-18 16:42:42 +00:00