The buyout of Kindred Group by La Française des Jeux (FDJ) is another step closer to completion after the French gambling operator served a squeeze-out notice to the remaining shareholders of the Malta-based iGaming giant.

FDJ’s offer to Kindred Group’s shareholders initially closed on 2nd October 2024, and was accepted by shareholders with approximately 90.66 per cent of Kindred shares. FDJ also acquired an additional 1.11 per cent in a separate transaction.

Since FDJ thus became the owner of shares representing over 90 per cent of the total number of outstanding shares in Kindred, it announced that it will complete the acquisition of the shares in the company.

FDJ subsequently extended the offer period to 18th October in order to provide the remaining shareholders in Kindred with the opportunity to accept the offer. During the extended acceptance period, the offer was accepted by shareholders with approximately 6.83 percent of the outstanding shares.

After the end of the extended acceptance period, FDJ thus controls approximately 98.6 percent of the outstanding shares in Kindred Group.

Kindred Group has now announced that FDJ will be exercising its right to require all those Kindred shareholders who have not tendered their shares during the offer period to transfer all their shares to FDJ.

The consideration payable for all the shares shall be the same as the offer price.

The outstanding shareholders of Kindred Group must transfer their shares to FDJ by no later than 27th December 2024. Should a squeezed-out shareholder fail to transfer all its shares in the company to FDJ by that date, the transfer will be made for them.