European gambling company Kindred Group in talks to be sold for $2.5B – WSJ

European gambling company Kindred Group (OTC:KNDGF) is in talks to be sold to La Française des Jeux for about $2.5 billion.

A deal may be announced as soon as Monday, according to a WSJ report on Sunday, which cited people familiar with the matter. France-based La Française des Jeux, or FDJ, is known as the country’s exclusive lottery and offline sports-betting operator.

A potential deal comes after Kindred Group (OTC:KNDGF) announced in April that it was exploring strategic alternatives, including a possible sale of the company.

There was also a report in late July that MGM Resorts (MGM) was speculated to be one of the companies looking at a potential acquisition of Swedish online gambling company Kindred (OTC:KNDGF), according to a Betaville “uncooked” alert at the time.

It was first reported in July 2022 that Kindred (OTC:KNDGF) was said to be exploring a possible sale following shareholder pressure on the online gambling operator, specifically from activist Corvex Management.