Termination of talks with Gala Coral Group

RNS Number : 3103A

Rank Group PLC

29 March 2012

 

29 March 2012

 

The Rank Group Plc

Termination of discussions with Gala Coral Group  

On 30 January 2012, The Rank Group Plc ('Rank' or 'the Group') announced that it was in discussions with Gala Coral Group ('Gala') about a potential acquisition of Gala's casino business.  Rank today announces that these discussions have ended after it became clear that the proposed terms of the acquisition would not serve the best interests of Rank's shareholders.  

Rank's chairman and chief executive officer Ian Burke commented, ''Rank remains committed to delivering sustainable growth in shareholder value; the proposed terms of the potential acquisition did not achieve this objective.  We will now concentrate on delivering our organic growth plans, including the delivery of 12 more G casinos by 2015."

~ ends ~

www.rank.com

Enquiries:

The Rank Group Plc     

Philip Munn, investor relations          01628 504 149

Evercore Partners Limited      

Edward Banks                                  020 7268 2700

FTI Consulting

Marc Cohen                                      020 7831 3113

 

END

 

 

MSCBCGDXGUDBGDI