LONDON (dpa-AFX) - Flutter Entertainment plc (FLTR.L) said that it agreed to buy The Stars Group Inc. (TSG, TSGI.TO).
As per the terms of the deal, the Stars Group Shareholders will be entitled to receive 0.2253 New Flutter Shares in exchange for each TSG Share.
Flutter Shareholders would own about 54.64 per cent and TSG Shareholders would own about 45.36 per cent of the share capital of the Combined Group.
The Combination is also expected to be at least 50 per cent accretive to Flutter underlying earnings per share in the first full financial year following completion.
Gary McGann, currently Chair of Flutter, will assume the role of Chair of the Combined Group. Divyesh Gadhia, currently Executive Chairman of TSG, will assume the role of Deputy Chair of the Combined Group.
Peter Jackson, currently CEO of Flutter, will assume the role of CEO of the Combined Group. Jonathan Hill, currently CFO of Flutter, will assume the role of CFO of the Combined Group.
Rafi Ashkenazi, currently CEO of TSG, will assume the role of COO of the Combined Group.
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