Kindred Group updates 32Red offer to ‘unconditional’

Kindred Group has announced that its £175.6 million (€203 million/$220.3 million) cash offer to acquire 32Red has now been updated to ‘unconditional’.

The move comes after the offer was accepted by 32Red majority shareholders and was granted approval by the Licensing Authority of Gibraltar.

32Red will now begin the process of de-listing as a London AIM enterprise, as per the terms of the acquisition agreement.

Kindred will initially re-register 32Red as a private limited company prior to integrating the operator’s casino, poker and sports betting assets into its own portfolio.

The deal is due to go through before the end of the first half of the year.

Related article: Kindred agrees 32Red takeover