Olswang is advising AIM-listed online gaming company, 32Red, on the recently announced recommended offer by Kindred Group plc, one of the largest online gambling companies in the world.
Kindred’s offer of 196 pence per share values 32Red at £175.6m and is to progress by way of a takeover offer. 32 Red is also being advised by financial advisers, Numis.
Founded in 2002, 32Red is based in Gibraltar and operates online casino, online poker, online bingo and online sports betting under the brands 32Red.com, 32RedPoker.com, 32RedBingo.com and 32RedSport.com. In 2015, 32Red acquired the Roxy Palace online casino business.
Olswang Corporate Partner Rob Willis (Picture) is leading the team, assisted by Tom Jameson and Tim Watkins (corporate); Andy Quayle and Cathy Merry (Share Schemes); David Zeffman and Anna Soilleux-Mills (Gambling Regulatory); and Ruth Marken (Finance).
Involved fees earner: Tom Jameson – Olswang LLP; Tim Watkins – Olswang LLP; Andrew Quayle – Olswang LLP; Catherine Merry – Olswang LLP; David Zeffman – Olswang LLP; Anna Soilleux – Olswang LLP; Ruth Marken – Olswang LLP;
Law Firms: Olswang LLP;
Clients: 32Red Plc;