A £390 million (€512 million/$588 million) leveraged loan that will support the acquisition of a controlling stake in Sky Bet by investment vehicle CVC Capital Partners is set to close, according to Reuters.
The news agency said that the loan would close after margins were increased and barriers were raised on CVC’s ability to take a dividend to attract investors to the deal.
Under the purchase agreement, which was first unveiled in December, CVC will acquire a controlling stake in the operator in a deal worth up to £800 million.
Sky will receive £600 million in cash on completion and further deferred and contingent considerations up to the value of £120 million.
However, the report added that some loan investors have expressed concern over the gambling sector and the potential for increased control.
Goldman Sachs is leading the financing alongside Barclays and RBS.
source : www.igamingbusiness.com
