Tote to be put up for sale on the open market
Mon, 17 Dec 2007
UK gambling group the Tote will now be put up for sale on the open market, according to reports.
The move follows the government's rejection of a £320m bid from a consortium made up of the management and employees of Tote, otherwise known as the Racecourse Association and the Racehorse Owners' Association.
Potential bidders are expected to include private equity-backed gambling business Gala Coral.
PricewaterhouseCoopers is advising the government on the sale.
The auction is expected to begin in January, although the ministers are said to be contemplating whether to wait for the market to recover, which could extend the process to beyond 2008.
The move follows the government's rejection of a £320m bid from a consortium made up of the management and employees of Tote, otherwise known as the Racecourse Association and the Racehorse Owners' Association.
Potential bidders are expected to include private equity-backed gambling business Gala Coral.
PricewaterhouseCoopers is advising the government on the sale.
The auction is expected to begin in January, although the ministers are said to be contemplating whether to wait for the market to recover, which could extend the process to beyond 2008.
Look around the Business Sale Report
10 Biggest Buyer Mistakes
Fill in your details below to get our FREE guide
Next Steps...
- Subscribe and get contact details straight away.
- We send you login details to access information for all the businesses listed for sale.
- Give us your acquisition criteria and our researchers will begin searching for specific opportunities that match your requirements.
- View new opportunities you won't find anywhere else and use daily notifications to stay ahead of the competition.
If you have any questions, get in touch with us to find out how we can help.
Call us on +44 (0)20 8875 0200
Or email [email protected]
