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No conflict of interest in Ainsworth stake sale, Takeovers Panel rules

16th June 2016 11:46 am GMT

Australia’s Takeovers Panel has concluded its investigation and accepted undertakings that the wife of Ainsworth Game Technology (AGT) founder Len Ainsworth will not vote on the proposed sale of his 53 per cent stake in the company.

Last month the Australian Securities and Investment Commission (ASIC) and hedge fund Fortress Investment Group moved to block relatives of Len Ainsworth from voting in favour of NOVOMATIC’s proposed acquisition.

They filed an application with the Takeovers Panel to block Ainsworth’s [...]

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