Privately-held investment group Access Industries will delist Perform Group from the London Stock Exchange next month after increasing its stake in the sports media and data services operator.
It was confirmed this (Thursday) morning that Access now controls 77% of Perform, which operates sports betting services such as real-time sports data provider RunningBall as well as the Watch&Bet live streaming service.
“Access Industries has confirmed that it now holds, or has been offered, a total of 77% of Perform shares,” Perform said this morning.
“This level of ownership starts a delisting process for the company, which is likely to happen around December 5 this year.”
Access triggered the increase after pushing its stake above the 50% threshold last month, obliging the company to acquire all shares offered to it by shareholders who take up the company’s previously-submitted takeover offer of 260p per share. That offer will close on December 2.
Perform had previously urged its shareholders to reject the offer, claiming that it undervalued the company.
Access, which is owned by billionaire Len Blavatnik, tabled a final cash offer for Perform just over two months ago. Access previously had a 42.5% shareholding in Perform before increasing its stake.