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Bids, Mergers and Takeovers

Caledonia's deal

21 December 2015 07:22

Caledonia Investments has completed its acquisition of Gala Bingo Holdings following change of control approval by the Gambling Commission.

Caledonia has invested £92.3m in cash for 98.9% of Gala Bingo's equity. The slight variances from the amounts previously announced have arisen from closing balance sheet adjustments and a higher equity subscription from the management team. The balance of the acquisition costs has been funded by a £155m senior debt facility provided by Intermediate Capital Group plc.

Story provided by StockMarketWire.com

Related Company: CLDN

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