Flutter Entertainment funds FanDuel buyout with £1.1bn share sale

By Aidan Gregory
04 Dec 2020

Flutter Entertainment, the parent of bookies Paddy Power and Betfair, has returned to the equity capital markets with a £1.1bn share sale to finance its acquisition of a stake in FanDuel Group, the New York-based fantasy sports and online casino company.

Flutter will acquire a 37.2% stake in FanDual from investor consortium FastBall Holdings for $4.17bn, increasing Flutter's stake in the company to 95% from 58.7%.

FastBall Holdings will be paid $2.09bn in cash and will be issued 11.7m shares in Flutter. The transaction values FanDual at an enterprise ...

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