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Playtech sells holding in Plus500 for GBP 176 mln
BC, Tallinn, 07.09.2018.
Print version
Print versionGambling-software company Playtech PLC, which runs a major development operation in Estonia, said Friday that it has sold its entire stake in online trading platform Plus500 Ltd for around 176 million pounds (EUR 196 mln), reported LETA/BNS.
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Playtech told the London stock exchange that it sold 11.4 mln shares in Plus500, representing 10% of the company's issued share capital, at 1,550 pence each. Proceeds from the sale will be used for debt reduction and general corporate purposes, Playtech said.
Playtech said it is still entitled to Plus500's interim dividend, equivalent to around 16 mln euros.
Shares of Playtech plc are listed on the London stock exchange. The core business of its Estonian subsidiary, Playtech Estonia OU, is programming and computer graphics.
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