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French lottery operator FDJ is taking up the Irish Lottery after putting a deal price €350m ($384m). [Image: Shutterstock.com]
French lottery operator La Française des Jeux (FDJ) will take over the Irish Nationwide Lottery after putting a deal price €350m ($384m). The settlement for Premier Lotteries Eire (PLI) will imply that FDJ will maintain unique Irish Lottery rights till 2034.
The three shareholders in PLI are promoting off their stakes because of the transaction. The Ontario Academics’ Pension Plan (OTPP) is the principle shareholder, with An Put up and the An Put up Pension Fund each junior companions.
OTTP bought the corporate for €405m ($444m) in 2014, receiving a 20-year license within the course of. The newest acquisition will want approval from the Regulator of the Nationwide Lottery earlier than it may go forward.
strengthens Eire’s ties to its nearest EU neighbour”
Commenting on the deal, Nationwide Lottery Director and An Put up CEO David McRedmond stated: “FDJ’s trade experience will likely be vastly useful to the long run operation, and strengthens Eire’s ties to its nearest EU neighbour.”
The latest annual report for the Nationwide Lottery featured €1.05bn ($1.15bn) in gross sales for 2021, which was an all-time file. Of the full sum, €586m ($643m) went in direction of prizes and €304m ($334m) to good causes.
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