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Australia’s ASIC raises concerns over Ainsworth stake sale

17th May 2016 11:30 am GMT

The Australian Securities and Investment Commission (ASIC) has moved to block relatives of Ainsworth Game Technology (AGT) founder Len Ainsworth from voting in favour of NOVOMATIC’s proposed acquisition of his majority stake in the business.

The ASIC has filed an application with the Australian Government’s Takeovers Panel to block Ainsworth’s wife Margarete from voting in favour of the share sale transaction at an extraordinary general meeting, due to be held on June 3rd.

It is also looking [...]

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