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Playtech agrees £424m sale of stake in William Hill Online

1st March 2013 7:21 am GMT

UK bookmaker William Hill plc has agreed to pay approximately £424m to buy out technology and services supplier Playtech from its 29 per cent  stake in William Hill Online.

The agreed price of £424m represents a multiple of approximately 11.5 times normalised 2012 EBITDA and is to be settled entirely in cash, with Playtech receiving a proportionate share of 2013 profit from William Hill Online up to the date of completion.

The transaction must be completed before [...]

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