SBC News Voice of the Sports Betting Industry
Optimal Payments a key transactions/payment processor for the online gambling industry is eyeing entry into the FTSE 250 index. The payments operator is set to move from the London AIM market to the FTSE index, once it has finalised its £800 million reverse takeover of main competitor Skrill.
Optimal governance is confident that the payments operator has met all regulatory conditions to process the takeover. The firm expects approval by the UK Financial Conduct Authority to be granted by the end of July.
The £800 million acquisition offer has been approved by main Skrill investor CVC Capital and other key stakeholders. Optimal is set to offer €720 million in cash, with an additional 37 million shares to CVC in the merged payments operator. The funding of the Skrill acquisition has been supported by the Bank of Montreal, Barclays and Deutsche Bank to aid the transaction with credit facilities.
The acquisition will see Optimal become the leading payment provider for the online gambling industry and a global leader in digital wallet and pre-paid online payment services.
Optimal were one of the biggest exchange movers last week gaining 11% as the company announced it was edging closer to completing its acquisition of Skrill.
