Saying that 99.9 percent of shareholders approved the deal at an “extraordinary meeting,” bwin.party announced that a 1.1 billion pound acquisition by GVC Holdings has been approved.
GVC and bwin.party management will work together to officially complete the deal by the first quarter of 2016 and begin the merger of corporate assets, the companies said in a press statement.
Shay Segev, former Playtech Chief Strategy Officer, has been appointed as new GVC Chief Operating Officer. Segev will lead the operational integration of the new merged business between GVC and bwin.party, the statement said.
Despite the vote, the closing offer still remains subject to the satisfaction or waiver of the other conditions set out in the scheme document, such as the sanctioning of the scheme by the court, the statement said.
