Acquisition of Gala Bingo completed by Caledonia Investments
Caledonia Investments’ £241m acquisition of Gala Bingo has been completed after it was approved by the Gambling Commission.
Caledonia Investments
3,435.00p
16:40 25/09/24
-0.43%
-15.00p
Equity Investment Instruments
11,831.96
16:54 25/09/24
-0.02%
-1.81
FTSE 250
20,755.44
16:54 25/09/24
n/a
n/a
FTSE 350
4,560.05
16:54 25/09/24
n/a
n/a
FTSE All-Share
4,516.21
17:09 25/09/24
n/a
n/a
It follows the announcement of the deal in October, with Caledonia investing £92.3m in cash for 98.9% of Gala Bingo's equity.
It’s a slight variance from the amounts announced, due to closing balance sheet adjustments and a higher equity subscription from the management team.
The balance of the acquisition cost was funded by a £155m senior debt facility provided by Intermediate Capital Group.