Sportingbet confirms Turkish sale
In a brief statement, Sportingbet revealed that it had earlier received approval from shareholders to offload its SuperBahis.com domain to operator East Pioneer Corporation BV for a minimum consideration of £125 million in cash.
The deal, which was arranged through Sportingbet’s Longfrie Limited subsidiary, would see East Pioneer run the Turkish business in the same way under guarantees from GVC Holdings and that firm’s GVC Sports business-to-business operation.
“Further to Sportingbet's announcement on November 10 announcing that the resolution to approve the disposal of the business had been approved by its shareholders, GVC Holdings announcement on November 16 that GVC shareholders had correspondingly approved all necessary resolutions relating to the transaction and GVC's re-admission to trading on AIM yesterday, the company is pleased to announce that all conditions precedent have been satisfied and that the disposal of the business is therefore expected to complete after market close on November 21,” read the brief statement from Sportingbet.
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