Rank Group PLC has announced its conditional agreement for acquiring Gala Casinos Ltd. from Gala Coral Group Ltd. The agreement anticipates Rank buying out 23 casinos and 3 non-operating of casino licenses.
The condition agreement, which is also called as the original agreement, expected the exclusion of Office of Fair Trading's requirement of a limited number of casinos from the proposed buyout.
Officials at Rank are currently in negotiation with Gala Coral with regards to appropriate amendments to the terms of the acquisition. This is a response to a report published by Competition Commission on its review of the proposed buyout.
The proposed acquisition of Gala Casinos was approved by Rank stakeholders at a general meeting on July 26, 2012.
Join the Conversation