Ladbrokes-Coral sale clears way for £2bn merger

Mon, 17 Oct 2016 | MERGER

Betting firms Ladbrokes and Coral have agreed to sell 359 betting shops, paving the way for their £2.7 billion merger.

Betfred will take 322 stores for £55 million and Stan James will buy the rest for £500,000. Ladbrokes said the deal, subject to approval, cleared the "last significant hurdle" for its merger with Coral. If the two firms merge they'll become the largest bookmaker in the UK.

The sale is an attempt to appease the Competition and Markets Authority (CMA), which said the firms must sell off between 350 and 400 shops to prevent a monopoly. The CMA will now assess the deals. Ladbrokes and Coral said they would seek approval to complete the merger when they sell one more shop.

Ladbrokes chief executive, Jim Mullen, said: "The sale of these shops will clear the last significant hurdle to delivering on the merger with Coral and paves the way for our focus on completion and quickly delivering on the opportunities the merger offers."

William Hill, the current market leader, is also planning a multi-billion-pound merger with Canadian online gambling and gaming firm Amaya, although shareholders are against the deal.

Asset house Parvus, William Hill's largest shareholder, said the move had "limited strategic logic" and would "destroy shareholder value". The company advised William Hill to explore other options, including a sale of the business.

There's a lot of information about selling a business here.


Share this article



Latest Businesses for Sale

National Reprographics & Flexo Plate Manufacturer (Fast Sale)
UK Wide

Opportunity to acquire the Business & Assets of :- A Well Established National Reprographics and Flexo Plate Manufacturer. Expressions of interest are to be made by COB Thursday 17 October 2019. All offers are to be received by Midday Wednesday 23 Oc...

Asking Price: Offers Invited
Turnover: £5,513,440

Electrical Installation & Service Retailer
West Midlands, UK

Service retailer member of Europe's largest buying group. Additional gift shop in the business with additional income streams. Business across 2 units (Retail & Storage, admin & service). Sale and installation and of aerials, satellites and CCTV. Of...

Asking Price: £249,999
Turnover: £530,000

LEASEHOLD


Care Agency
Cumbria, UK Wide

Well established care agency for sale. Situated in a predominantly residential area close to the town centre. Thriving business with ample growth potential. Highly reputed with regular and repeat trade. Offers invited.

Asking Price: £649,950
Turnover: £761,284

RELOCATABLE



View more businesses for sale

News Search

Latest News

 
16
 
Oct
 

Automotive supplier completes MBO | MBO/MBI

An automotive products supplier located in South Yorkshire h...

 
15
 
Oct
 

Tomlinsons Dairies falls into administration | ADMINISTRATION

Wrexham-based dairy firm Tomlinsons Dairies has announced to...

 
14
 
Oct
 

PE firm snaps up independent video game firm | BUSINESS SALE

Private equity firm NorthEdge Capital has successfully acqui...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Related News

 
21
 
Feb
 

Broadcaster buys greyhound stadia from William Hill | BUSINESS SALE

A broadcaster specialising in the supply of live racing pict...

 
10
 
Oct
 

William Hill in '£4.5 billion' merger discussions with owner of PokerStars | MERGER

William Hill, one of UK’s leading betting companies, i...

 
20
 
May
 

400-shop sell-off in Ladbrokes and Coral merger | MERGER

The proposed £2.3 billion merger between betting giant...

Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources