Flutter finalises TSG merger agreement
Flutter Entertainment has confirmed the completion of its $11 billion merger with The Stars Group (TSG), and will begin trading on the London Stock Exchange and Euronext Dublin Exchange.
Upon completion of the deal, Flutters’ entire enlarged issued share capital was admitted to the premium listing of the Official List of the Financial Conduct Authority and the Official List of Euronext Dublin.
Absorbing TSG assets, Flutter will now trade on LSE’s main market for listed securities under the ticker ‘FLTR’, as the merger deal is completed on schedule for investors.
The enlarged group also confirmed that Jan Bolz and Emer Timmons have stepped down as non-executive directors of Flutter.
Meanwhile, Divyesh Gadhia, Rafael Ashkenazi, Richard Flint, Alfred F. Hurley Jr, David Lazzarato and Mary Turner have all been appointed as non-executive directors.
Flutter will initially have five reporting segments, including TSG International (excluding current US operations), Paddy Power Betfair, Sky Betting and Gaming, Australia (including SportsBet and BetEasy), and US (including FanDuel and all TSG US operations).
At the end of 2020, Flutter will form four core operating divisions, in which the company will merge TSG International with PPB ‘international’ assets. Flutter will also establish a new UK & IRE division by combining Paddy Power assets with Sky Bet.
Source: SBC News