Playtech plc: Update on acquisitions of Plus500 Ltd and Ava Trade Ltd
Further to its announcements dated 1 June 2015 and 19 August 2015, the Board announces an update on its acquisitions of Plus500 Ltd. and Ava Trade Ltd.
Due to the high profile nature of Playtech‘s acquisition of Plus500, receipt of all regulatory approvals is taking longer than the Boards of Playtech and Plus500 had originally anticipated but still within the relevant regulatory and statutory timetables.
Playtech already holds a number of licences from financial regulatory bodies and the Board of Playtech is currently not aware of any issues which would give rise to the required regulatory approvals not being granted in due course, having already obtained the approval of the Cyprus Securities and Exchange Commission.
The statutorily required regulatory assessment of the proposed acquisition should be completed by the end of November 2015 but Playtech remains hopeful for an October 2015 completion.
Playtech still expects the acquisition of Ava Trade Ltd. to complete around the end of September or early October 2015, broadly in line with its original timetable.
Source: Playtech
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