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FastBall Holdings cuts Flutter stake via £360m block
FastBall Holdings, an investor consortium led by KKR, has offloaded a portion of the stake in Flutter Entertainment it received in December as part of the Irish gaming conglomerate’s buyout of FanDuel Group, the US fantasy sports company.
As part of Flutter’s $4.17bn deal to buy FastBall’s 37.2% stake in FanDual, FastBall was issued with 11.7m shares in Flutter. The transaction valued FanDuel at $11.2bn.
FastBall has now sold 2.34m of these shares for £360.6m, through an accelerated bookbuild on Tuesday evening. Goldman Sachs was bookrunner.
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