Offering 130 SEKshare to buy Kindred Group
Premium of around 24 to Kindred39;s Jan 19 price
Deal would create new European sector leader
Deal worth around 2.8 bln on enterprise value
Kindred shares jump 17, FDJ shares rise 3.9

PARIS, Jan 22 Reuters French gaming company La Francaise des Jeux launched a takeover offer to buy Swedish online peer Kindred Group on Monday in a deal it said would create the secondbiggest operator in Europe39;s gaming sector.

FDJ said it was offering 130 Swedish crowns 12.43 a share for Kindred, which would correspond to an enterprise value of 2.6 billion euros 2.83 billion and represent a premium of 24 to Kindred Group39;s Jan. 19 closing price.

Kindred shares were up roughly 17 to 122.6 crowns while FDJ39;s stock traded 3.9 higher in early trading.

Kindred had attracted interest from several parties since it started a review of strategic alternatives last year, including a possible merger or sale of the company, the Swedish firm said in a separate statement.

The offer from FDJ represented the most attractive outcome for shareholders, prompting Kindred39;s board to unanimously recommend the offer.

The Board believes that the terms of the offer recognise Kindred39;s longterm growth prospects, taking into account the risks and uncertainties associated with the realisation of those prospects, it added.

I am pleased to announce today the proposed acquisition of Kindred, said FDJ Chairwoman and CEO Stephane Pallez.

The combination will…