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Celsius Coal’s proposed deal for Favourit falls flat as Australian IPO fails

9th June 2016 10:22 am GMT

Celsius Coal’s proposed takeover of sports betting platform provider Favourit has been derailed after the Australian Securities and Investments Commission (ASIC) placed a stop order on its plans to raise AUD$6m to fund the acquisition.

The company, previously focused exclusively on the mining industry, had announced a deal in October 2015 to acquire Favourit, which first launched in 2012 and has since secured licences from the UK Gambling Commission and Malta Gaming [...]

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