French gambling giant La Française des Jeux (FDJ) has offered to acquire online betting firm Kindred for 27.95 billion Swedish kronor (about $2.67 billion). Both parties confirmed the widely anticipated news on Monday, with FDJ saying it hoped to “create a European gaming champion” and become the continent’s second-largest operator, with the takeover. The offer for Kindred, a Swedish-listed firm that operates the brands Unibet, 32Red and Bingo.com, is being made at 130 kronor ($12.4) per share in cash. It would help FDJ significantly scale its international business, with its current share of overseas gross gaming revenue projected to rise from 6% to approximately 20%, should the deal go through. “I’m delighted with today’s transaction announcement between FDJ and Kindred, creating a leading European gaming operator with the financial and strategic capabilities to further expand its global footprint,” Kindred CEO Nils Andén said in the statement.

Source: CNN January 22, 2024 16:43 UTC