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Tabcorp sells Jumbo Interactive stake for AUD$98m

24th September 2020 7:50 am GMT
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Sydney-listed betting and gaming operator Tabcorp Holdings has sold its 11.6 per cent stake in online lottery provider Jumbo Interactive for a profit of AUD$69m.

Pursuant to an underwritten block trade agreement with UBS, Tabcorp has sold 7,234,178 shares in Jumbo at a price of $13.52 per share, equivalent to gross proceeds of $98m.

The proceeds will be used to pay down existing drawn bank debt facilities, with Tabcorp recording a net profit on the sale of [...]

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