Ladbrokes Coral has recently announced its plans to seek the advice of well-known brands for a discussed purchase deal with GVC Holdings. The UK-based gambling company is going to call on teams at UBS, a financial services company, as well as Greenhill, which is an independent investment bank, able to provide significant financial advice to the members of the deal. The said acquisition was announced earlier this week as online gambling company GVC Holdings stated that it is currently discussing the details around the purchase estimated to cost some $5.2 billion.
The final objective of the two companies is to create a new bastion of betting in the UK, and the way to do so is by giving the green light to the purchase deal which have been anticipated eagerly by many interested in the sector. The decision of GVC to acquire Ladbrokes Coral could be defined as the biggest wager yet done by Kenny Alexander, who, if the deal is finalized, is going to become the Chief Executive Officer of the combined group. The proposed purchase is expected to result in the company’s new status and it being large enough to receive a spot in Britain’s FTSE 100 index very soon after the final signature is placed.
Who Oversees the Acquisition Deal
In order to make the whole process much smoother, Ladbrokes Coral has decided to rely on the tried-and-proven approach of the financial services entities which have worked with the gambling company before. Among the members of Greenhill’s team which will be closely following the deal, are London-based President David Wyles, Managing Director Pieter-Jan Bouten, as well as Principal Michael Lord. As for the team of experts at UBS, it will include Investment Bank Vice-Chairman William Vereker, as well as John Woolland and Jonathan Retter.
UBS is also known as Ladbroke Coral’s corporate broker, but it could be recalled, that Ladbrokes Coral partnered with the same teams at UBS and Greenhill before. They were mandated to thoroughly guide the merger between Ladbrokes and Gala Coral. The said deal took place last year and apparently the company is satisfied with the results since it opts for the same experts once again. The potential tie-up between GVC and Ladbrokes Coral has been discussed for quite some time now by experts and it is expected to result in a British gambling empire.
Mr. Alexander has been following the company’s agenda to come up with more and more ambitious deals and one of them was the £1.1 billion reverse takeover of bwin.party. GVC already oversees the operation of Sportingbet, partypoker, and Foxy Bingo, so a new and powerful company such as Ladbrokes Coral is more than welcome to join the team. If the more recent acquisition plan becomes reality, GVC will receive the 130-year-old Ladbrokes brand, as well as Coral and Gala which come with it. The company is being advised on the deal by Houlihan Lokey and Investec. The former has proposed Managing Director David Sola to oversee the discussions, while Investec’s team comprises of Chris Treneman and Garry Levin.