FDJ Group: Approval of the Amendment to Kindred’s Bylaws to Allow a Squeeze-out Procedure Above a 90% Capital Ownership Threshold
Summary
In accordance with the public tender offer for Kindred that FDJ (Paris:FDJ) filed with the Swedish Financial Supervisory Authority (SFSA), the completion of the tender offer is subject to certain conditions precedent, including an amendment to Kindred’s bylaws to allow for the implementation of a squeeze-out procedure in the event that FDJ acquires at least 90% of Kindred’s capital. Consequently, Kindreds shareholders approved this amendment to the bylaws during an Extraordinary General Meeting on 15 March 2024. As a reminder, the Swedish Financial Supervisory Authority (SFSA) approved, on 19 February 2024, the “offer document” relating to the FDJ Group’s tender offer for Kindred Group Plc. FDJs performance is driven by a large portfolio of iconic brands, the leading local sales network in France, a growing market, and recurring investments. The Group implements an innovative strategy to increase the attractiveness of its gaming and service offering across all distribution channels, by offering a responsible customer experience.