In order to realize its ambition of becoming an international player in the gambling industry, FDJ announces that it has presented a public purchase offer for the entire share capital of Kindred, a company listed on the Nasdaq in Stockholm. The offer was unanimously recommended by the Kindred Board of Directors.
Stephane Pallez, President and CEO of FDJ Group, said: “I am pleased to announce today the planned acquisition of Kindred. Fully aligned with our strategy, it will allow the FDJ Group to present an even more diversified and balanced profile based on several pillars: monopoly activities, mainly lotteries, on our historic market in France and, from November, in Ireland , with the acquisition of Irish lottery operator PLI; and competing activities in the sports betting and online gaming market in Europe. Kindred is a major player in this market, combining strong brands, recognized technological excellence, an attractive growth profile and a committed approach to responsible gambling. Given their respective histories, strategic assets and values, FDJ and Kindred are highly complementary and I am pleased to welcome Kindred's management team and its many talents to the combined Group following this transaction. This will result in a stronger strategic position and significant value creation for the benefit of our shareholders and all Group stakeholders."
Nils Andén, Chief Executive Officer of Kindred, said: “I am pleased to announce the merger between FDJ and Kindred, which will create a leading gaming company with the financial and strategic capabilities to continue to expand its international presence. By joining forces with FDJ, I am convinced that Kindred will be able to accelerate the implementation of long-term strategic projects, continue its growth in its key markets and offer its customers a reliable source of entertainment. Furthermore, it will allow us to accelerate our progress towards achieving full revenues from locally regulated markets. I am pleased to bring Kindred's vast experience and expertise to FDJ, helping them build a leading online gaming company. I am also very proud that FDJ recognizes and values the talent of our staff and our strong resources.”
