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Sportingbet closes in on Centrebet acquisition

22nd August 2011 9:38 am GMT

UK-listed Sportingbet plc has moved a step closer to acquiring Centrebet International Limited, after the Federal Court of Australia issued orders approving two separate inter-conditional schemes of arrangement between Centrebet and its shareholders and performance right-holders.

Under the terms of the schemes, Centrebet shareholders and performance right-holders will receive a cash consideration of $2.00 per Centrebet security, valuing Centrebet equity at approximately $183m.

In addition to the cash consideration, Centrebet security-holders will receive a litigation claim right [...]

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