1st of December 2009 Author: Ava Jackuard
Bwin Interactive out of joint venture in Spain
Following a share-based loan redemption, the London-based retail and online betting provider Betbull Holding has become the controlling owner of the Betbull Bwin Espana SA joint venture established in 2007.
In an announcement this week it was revealed that Bwin agreed to the conversion of a Euro 2.5 million loan note into 1.25 million ordinary Betbull shares priced at one Euro each as part of the deal, while the Austrian firm will also receive an additional 1 101 124 shares in Betbull in exchange for setting up and funding the Spanish joint venture.
Once approved by shareholders and authorities, the agreement will result in Betbull's issued share capital increasing by over 2.35 million to 10 914 624 with Bwin owning 36.98 percent of the British firm.
“The convertible loan note and Bwin's participation as a stake holder in Betbull Bwin Espana have enabled initial development of the Madrid venture and the objectives of those financial structures have been satisfied,“ said Simon Bold, Director for Betbull.
“The restructuring serves to regularise and tidy up the setup of the two companies, bringing all retail activities into the Betbull group. Bwin continues to support Betbull as the major stakeholder with just short of 37 percent of total shareholding.“
General Gambling News
29th of November 2008
25th of November 2009
18th of April 2015
17th of April 2015
20th of February 2015
21st of February 2015
14th of February 2015
26th of February 2015
Disclaimer Contact Us Privacy Gambling Help About Us Site Map
LatestCasinoBonuses.com © 2006-2015
Join now for full access to our online casino forum/chat plus receive our newsletter with news & exclusive bonuses every month.
PLUS join now and get...
100% up to $1000 PLUS 25 free spins! Sponsored by ClubUSA Casino, US OK.
View more information here