JKO Play, the company owned by Eddie Jordan, Rinuncion to Playtech And he then announced that he will not make any offer for his acquisition.
The company was initially given time until 5 January 2022 To deposit an offer for Playtech, a date that then had been moved to January 26 by 17:00.
But, on January 21, as our experts in the sector explain in this article, Jko by Eddie Jordan announced that he was no longer interested in reaching an agreement And he then retired from the trial.
What is JKO, the company that renounces Playtech?
Jko Play, the company that renounces Playtech and withdraws from the offer process, is one company owned by Eddie Jordan, the former owner of the famous Formula 1 team.
È Registered in Gibraltar, even if its main offices are located in London, and is supported by a group of private investors.
The company deals with acquisitions and investments in the game sector, entertainment and sports.
Jko and Playtech: the agreement
The JKO and Playtech company were in discussions for a possible agreement, but as the company said now renounces the offer.
JKO, which is already 0.51% Playtech shareholder And who had spoken of a possible offer still in November 2022, had to confirm his interest by January 5, the date which was then moved to 26. But, in the morning of January 21st, the company said she did not want to continue with the offer.
Playtech, for his part, had already provided the possible bidder all the two diligence information necessary to formulate an offer. He also had a meeting with shareholders postponed to allow Jko to make a decision.
Now, since JKO withdraws from the possible agreement with Playtech, The only bidder still interested in detecting the company's shares is aristocrat, as we have already seen in this articlenull Offer who at the moment has yet to, however, be voted by the shareholders.
On this agreement between JKO and Playtech both sides have released declarations about it.
Jko Play said: "The Eddie Jordan and Keith O'loughlin family office announce that Jko Play Limited, a shareholder of 0.51% of Playtech, It does not intend to make an offer for Playtech”.
Playtech, on the other hand, said: “A certain number of material investors have not so far committed themselves significantly on their opinions on the aristocrat offer. Also including some investors who revealed or taken material positions in the company after the announcement of the aristocrat offer ".
And he then, on Jko and Playtech, added: "The absence of the usual levels of commitment means that The Council is approaching the Court and General Assemblies without a clear understanding of the fact that these shareholders are in favor of the aristocrat offer ".
While Aristocrat said: “Aristocrat also urges the board of directors of Playtech to take all the available measures to create a transaction con Aristocrat. Acquisition that Facilitates Playtech shareholders to receive a full and fair value for their investment ".