William Hill gets green light for £242m MRG buyout

BRITISH betting company William Hill is one step closer to completing its proposed takeover of MRG.

The SEK 2.82 billion (GBP £242m) deal, which was first floated on October 31, 2018, recently received the all clear from competition regulators.

The offer remains open until January 17 this year.

“William Hill has now been granted approvals from the competition authorities in all necessary jurisdictions,” the bookmaker said in a statement this week.

“As a consequence, the offer is no longer conditional upon any approvals from authorities.”

The MRG portfolio includes Mr Green and Redbet along with a number of gaming and wagering brands that are well established in Scandinavia.

The company holds licences in Denmark, Ireland, Italy, Latvia, Malta, Sweden and the United Kingdom.

“This proposed acquisition accelerates the diversification of William Hill – immediately making us a more digital and more international business,” William Hill CEO Phillip Bowcock said when the deal was announced in October.

“MRG will provide William Hill with an international hub in Malta with market entry expertise and strong growth momentum in a number of European countries.

“William Hill will move from a single brand to a suite of brands that can maximise growth opportunities moving forward in new and existing markets.”

The settlement process is expected to commence around January 25.