Investment fund acquires 5% stake in William Hill

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Investment fund acquires 5% stake in William HillUK-based investment fund Silchester International Investors has purchased a 5% stake in William Hill.

According to official financial filings, Silchester bought 43.35 million shares in the bookmaker for 240p a share, meaning that the overall investment is worth £104m (€112.9m/$133.2m).

The purchase will make Silchester the fourth-largest institutional backer of the bookmaker.

Silchester also owns stakes in companies active in various other industries, such as supermarket chain Morrisons.

Earlier this month, William Hill posted mixed financial results for the first half of the year, with revenue up 3% year-on-year to €837m, but adjusted operating profit down 1% to €129.5m.

source :
www.igamingbusiness.com

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