Wed, 08 Jan 2020 | DIVISION SALE
Online gaming platform operator Nektan Plc has announced that its administrators PCR London LLC have sold its UK B2C business to Grace Media for £200,000.
The sale forms part of Nektan’s wider restructuring and comes after the appointment of Mark Phillips and Julia Swan of PCR London as administrators earlier in the week.
The most recent audited accounts of Nektan’s UK B2C business date from the year ending June 2018 and show the business delivering turnover of £19.4 million and making a loss.
Additionally, Nektan has entered into a B2B partnership with Grace Media, which is part of the Active Win Group, in order to facilitate continued service delivery to its existing UK B2C white label partners, with Nektan receiving ongoing monthly royalties from Grace Media.
Nektan has said that the sale will have no operational impact on it or on any of its subsidiaries, which will continue trading as normal. It also said that the sale and restructuring would allow it to target emerging markets with a stronger balance sheet.
Nektan Interim Chief Executive Gary Shaw described the deal as “very reassuring to all stakeholders involved” and added: "We look forward to working in partnership through the business-to-business relationship with the buyer as they take the business forward."
Active Win Group Chief Executive Warren Jacobs said: "The opportunity to acquire the UK B2C business allows Active Win Group to expand further into the UK online casino market, furthering our growth in this market from being a white label operator ourselves, to working with the full complement of business partners established by Nektan in recent years.”
Presenting a superbly located and well-established landmark 4 star town hotel, available for sale on a freehold basis.
FREEHOLD
For sale an beautiful country house hotel with stunning rural Lakeland views set within around 7 acres, with extensive gardens and car-parking.
FREEHOLD
A four star current hotel with panoramic coastal views situated in a busy North Wales tourist destination.
FREEHOLD
03
|
May
|
Three Aberdeen legal firms merge to form all-service provider | MERGER
Three prominent Aberdeen legal businesses have merged to for...
03
|
May
|
BGF-backed asbestos services firm makes third acquisition | BUSINESS SALE
Environmental Essentials, a specialist asbestos services fir...
03
|
May
|
Logistics firm acquires pair of Derbyshire businesses | BUSINESS SALE
A logistics firm headquartered in Preston has acquired a pai...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.