Burlywood ends talks over acquisition of Football Pools
Sportech has concluded talks with Burlywood Capital over the proposed sale of its Football Pools business.
In September, Burlywood was given exclusivity over a deal worth £97.25 million (€108.7 million/$119.4 million), with the company having intended to finance the transaction through a combination of equity from institutional investors and a new debt facility.
However, Sportech has today (Tuesday) confirmed that discussions have been terminated and it will now continue to focus on “maximising opportunities” for the Football Pools,
Ian Penrose, chief executive of Sportech, said: “Burlywood was unable to conclude the transaction set out within their proposal which we announced in September.
“The Football Pools is a valuable asset which has been transformed following a lengthy modernisation programme.
“We will continue to focus on maximising opportunities for the business.”
Related article: Burlywood Capital granted exclusivity with Football Pools proposal