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
3,370.00p
15:44 15/11/24
-1.75%
-60.00p
Equity Investment Instruments
12,024.90
15:45 15/11/24
-0.58%
-70.73
FTSE 250
20,508.75
15:45 15/11/24
n/a
n/a
FTSE 350
4,453.56
15:45 15/11/24
n/a
n/a
FTSE All-Share
4,411.85
15:45 15/11/24
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.