4 September 2015
888 Holdings Public Limited Company
("888" or the "Company")
Response to recommended offer for bwin.party digital entertainment plc by GVC Holdings PLC
The board of 888 notes the announcement today of the recommended offer by GVC Holdings PLC ("GVC") for bwin.party digital entertainment plc ("bwin.party"), which resulted in the withdrawal of the bwin.party board's recommendation for 888's offer. Accordingly, the Co-operation Agreement dated 17 July 2015 between bwin.party, 888 Holdings plc and 888 Acquisitions Limited has been terminated.
The 888 board has concluded that, as a result of its own extensive due diligence on bwin.party, it cannot see sufficient value in bwin.party to warrant a revision to its offer. Consequently, 888 confirms that it is no longer in discussions regarding the acquisition of bwin.party.
The board of 888 remains focused on growing shareholder value by pursuing its strategic growth initiatives.
A copy of this announcement will shortly be available at www.888holdingsplc.com.
Ends
For further information, please refer to the Company website www.888holdingsplc.com or contact:
888 Holdings plc Brian Mattingley, Executive Chairman Itai Frieberger, Chief Operating Officer Aviad Kobrine, Chief Financial Officer
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+35 0200 49800 |
Investec Bank plc (Joint Financial Adviser, Sponsor and Broker) Garry Levin Duncan Williamson
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Tel: +44 (0)20 7597 5970 |
Stifel, Nicolaus & Company, Incorporated (Joint Financial Adviser) John Orem Derek Herbert
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Tel: +1 (212) 887 7777 |
Hudson Sandler (Public Relations) Andrew Hayes Alex Brennan
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Tel: +44 (0)20 7796 4133
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