Goldman Sachs has successfully become the third largest shareholder in Kindred Group, following a 5.4 per cent share takeover.
It’s a move that will have gained the attention of Française des Jeux (FDJ), which is eyeing the full acquisition of Kindred.
As the bid from the FDJ remains under evaluation, however, the trade involving Goldman Sachs last week, which was notified by Kindred, is not unusual amidst the wider bid from the FDJ. The bid from the FDJ is reportedly around €2.6bn.
One source told SBCNews: “Kindred trades very close to the deal price, which suggests the market thinks there is a high probability that the deal closes”. FDJ’s proposal is still being evaluated by French and European authorities, the former over potential antitrust issues and the latter over whether FDJ underpaid for lottery rights at the time of its privatisation in 2019-20.
