Flutter Entertainment acquires shares in The Stars Group
Flutter Entertainment, the parent company of Paddy Power Betfair, announces in a press release an agreement to acquire shares in The Stars Group (TSG) in a merge to form a combined business with an annual revenue of £ 3.8 billion (EUR 4.3 billion / $ 4.7 billion). The agreement would create the largest online gaming and gaming operator globally and means that Flutter will exchange 0.2253 new shares in exchange for each TSG share, where Flutter shareholders own approximately 54.6% of the combined business and TSG shareholders 45, 4%.
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