FDJ Finalizes Acquisition of Kindred Group for €2.5 Billion
La Française des Jeux (FDJ) has successfully completed its acquisition of Kindred Group plc, solidifying its position as a leading player in the European online gaming and betting industry.
Acquisition Details
FDJ announced the successful outcome of its public takeover bid for Kindred Group plc, a prominent operator in the European online betting and gaming sector. By the end of the offer period on October 2, a total of 195,659,291 Swedish Depository Receipts (SDRs) of Kindred were tendered, representing 90.66% of the group’s capital. Additionally, FDJ directly acquired 2,400,000 SDRs from Veralda, amounting to 1.11% of Kindred’s capital.
With over 90% control of Kindred’s capital secured, FDJ has decided to finalize the acquisition of Kindred Group plc. Settlement and delivery for Kindred shareholders who tendered their SDRs will commence from October 11. FDJ will also initiate a compulsory delisting procedure from Nasdaq Stockholm.
FDJ has extended its offer until October 18, 2024, at 5 p.m. CEST. This extension allows remaining Kindred shareholders to tender their shares under the unchanged terms of 130 SEK per SDR. Settlement and delivery for these shareholders will begin from October 29.
Kindred’s Market Presence
Kindred is among the top five online betting and gaming operators in Western Europe, operating in seven of the ten largest European markets, including the Netherlands, the United Kingdom, France, Sweden, and Belgium. The company offers a comprehensive online portfolio—sports and horse betting, poker, and casino games—under brands such as Unibet and 32Red.
This transaction, valued at nearly €2.5 billion, creates a European leader with a diversified and balanced profile. The combined entity leverages monopoly activities, primarily lotteries in France and Ireland, alongside competitive online sports betting and gaming operations across Europe. The new group will generate approximately 26% of its revenue internationally, with competitive online offerings accounting for about 27% of its activities.
Statement from FDJ’s CEO
Stéphane Pallez, Chairwoman and CEO of the FDJ group, stated: “I am pleased to announce today the acquisition of Kindred, a leading European player in competitive online betting and gaming. Kindred has strong brands, recognized technological excellence, and attractive growth and profitability profiles, which will strengthen FDJ’s assets.”
“Both groups also share high demands in responsible gaming and a business model combining performance and responsibility. This acquisition creates a new European champion who intends to pursue its strategy of sustainable and profitable growth for the benefit of all its stakeholders”, she highlighted.
