Playtech: Update on appeal in respect of Ava Trade Ltd
Further to its announcement of 23 November 2015, Playtech announces that its appeal against the Central Bank of Ireland’s (“CBI’) decision to oppose its application to acquire Ava Trade Ltd. (“Ava Trade”) has concluded. The appeal was allowed by the Irish Financial Services Appeals Tribunal, with the consent of the CBI, on the grounds of error in the CBI’s decision-making process. The appeal therefore succeeded. In these circumstances, the matter was remitted to the CBI for reconsideration and a new decision.
However, although the application was referred back to the CBI for further consideration, as the proposed acquisition of Ava Trade was terminated by the sellers on 23 November 2015, Playtech has withdrawn its application, bringing this process to a conclusion.
Source: Playtech
Related Posts
Playtech Plc: Update on the acquisition of Ava Trade Ltd- Plus500: Termination of Merger Agreement with Playtech – Update on Plus500 and Ava Trade Ltd
- Playtech plc: Update on acquisitions of Plus500 Ltd and Ava Trade Ltd
Central Bank of Ireland opposes the acquisition of Ava Trade by Playtech - Playtech acquisition of Plus500 may be terminated if not consummated by end of 2015
