Paddy Power Betfair deal agreedFuziunea dintre Paddy Power si Betfair a fost agreata
The deal that was announced in August of the merger between Paddy Power and Betfair has been agreed by all parties and the newly merged company with feature on the FTSE 100 in London and have a secondary listing in Dublin.
With the agreed terms all finalised the combined business will be valued at £6 billion with an annual turnover of more than £1 billion, expecting to rise very quickly to £1.2 billion once the physical merger has been completed in early 2016.
Paddy Power shareholders will own 52% of the merged company and receive an £80 million special dividend with Betfair shareholders having 48% of the new firm which will be called Paddy Power Betfair and not what many had joked about calling it “Betty Power.”
Once the merger is completed Betfair boss Breon Corcoran who had worked for 11 years at Paddy Power before leaving in 2011 will assume the role of CEO, with Paddy Power boss Andy McCue becoming COO.
Once fully merged the company will have over 7,000 employees, but some roles will be lost in re-organising with £65 million put aside for payoffs, but the company believe that a one off cost will save them £50 million each year thereafter. More than 80% of its total revenues in the new company will derive from online gambling alone.Fuziunea anuntata inca din August, dintre Paddy Power si Betfair a fost in sfarsit agreata de ambele parti urmand ca actiunile nou infintatei companii sa fie listate in prima faza la FTSE 100 din Londra dupa care si la Dublin.
Cu termenii intelegerii stabiliti, noua entitate rezultata va fi eveluata la £6 miliarde cu un venit anual de £1 miliard, asteptarile sunt ca dupa aceasta fuziune , la inceputul lui 2016, veniturile sa creasca rapid la £1,2 miliarde.
Actionarii Paddy Power vor detine 52% din compania rezultata in urma fuziunii si vor primii dividente speciale in valoare de £80 milioane, actionarii Betfair urmand sa detina restul de 48% din actiunile nou infintatei Paddy Power Betfair si nu “Betty Power” asa cum multi carcotasi anticipau in gluma ca se va numii noua companie.
Odata ce fuziunea va fi completa seful Betfair, Breon Corcoran care a lucrat 11 ani la Paddy Power inainte de plecarea din 2011, isi va asuma rolul de CEO, urmand ca Andy McCue seful celor de la Paddy Power sa devina COO-ul noii entitati.
Odata fuziunea incheiata noua companie va avea 7000 de angajati, dar urmeaza ca anumite functii sa se piarda in urma reorganizarii. Pentru slujbele pierdute va exista un fond de £65 milioane ce va fi foloosit pentru compansatii. Desi poate parea o suma mare reprezentantii companiei cred ca acesta miscare va duce de fapt la o economie de £50 milioane pentru fiecare din anii urmatori. Se preconizeaza ca nu mai putin de 80% din veniturile nou infintatei companii vor venii din gamblingul online.
