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 [...]
