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Betfred bids to acquire South Africa’s Phumelela

27th August 2020 9:48 am GMT
Betfred
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UK bookmaker Betfred has made an offer to acquire South African racecourse owner and betting operator Phumelela Gaming and Leisure for as much as R925m (€46.4m).

Phumelela filed for bankruptcy in May after a period of adverse economic and trading conditions, which were exacerbated by the COVID-19 pandemic.

Betfred submitted a binding offer to Phumelela Tuesday to acquire all of the assets of the company for an aggregate consideration of between ZAR875m and ZAR925m (approx. €44.0m to [...]

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