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April 27, 2023

Board of publ. listed gambling company Kindred Group begins review of strategic options

Publ. listed Sweden/Malta-headquartered Kindred Group is an online gambling company and Unibet operator. NKP reported on the 11th of August 2022 that US hedge fund Corvex, which is the largest shareholder (+15% ownership), publicly announced its intention to sell. The board of Kindred Group has now announced it is beginning a review of strategic options, including a merger or a sale of the Company (in whole or in part) or other strategic transactions. The board has engaged PJT Partners, Morgan Stanley, and Canaccord Genuity as financial advisors with White & Case acting as legal advisor. Kindred Group recently reported FY22 revenues of GBP 1,068m with an EBITDA of GBP 187m. Q1-2023 revenue rose 24% on a YoY basis, while EBITDA rose 115% (246 to 306 GBPm and 22 to 47 GBPm, respectively).
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