CentreBet In Aquisition Talks
17th March, 2010
Australian online bookie, Centrebet International Limited has revealed that they are having confidential discussions with a number of parties that are interested in an acquisition.
Ina n official statement the suburban Sydney-based company stated that it is ‘facilitating discussions with the prospective parties in order to determine whether a proposal can be developed that may be viewed in the best interests of CentreBet’s shareholders and is capable of being put to CentreBet’s shareholders’.
“CentreBet has previously disclosed to the market that it was considering consolidation opportunities, either as an acquirer or as a target,” read a statement from the Australia and Europe-facing operator.
“Given the nature of the proposals and that further proposals may well be received, it is not considered appropriate or in the best interests of CentreBet and its shareholders to provide any further details concerning the proposals received at this stage.
“In considering any proposal, the CentreBet board will be seeking to maximise shareholder value and will have regard to the strong growth potential of the business courtesy of the company’s current strategy and the positive industry landscape in Australia in particular.
“It is important to note that no agreement on any potential transaction has been reached. The Directors wish to caution the market that there can be no assurance given by CentreBet that the present discussions will result in any formal proposal being made to the shareholders of CentreBet by the prospective parties.
“The Company will continue with its business as usual during this process. The discussions in relation to the proposals may take several months and it is possible that it will result in no changes to the ownership of CentreBet or its existing business. The company does not intend to disclose further developments regarding any of these proposals until the above-mentioned discussions have been completed.”
By Faye
