Kindred announced it will exercise its right to acquire compulsorily the remaining 32Red shares and procure the delisting of 32Red from the AIM Market of the London Stock Exchange.
The total estimated cost of the transaction is £4.6 million, of which £600,000 has already been accounted for in the first quarter of 2017 and £3.2 million will be accounted for in Kindred's report for the second quarter of 2017.
In April, Kindred’s bid was accepted by 32Red majority shareholders and also granted approval by the Licensing Authority of Gibraltar, but completion of the deal had to wait for the UKGC’s approval.
In 2016, 32Red saw record net gaming revenue of £62.3 million.
Source: GMB / iGaming Business