Sportech in exclusive talks to sell football pools
- Credit: Paul Chesterton/Focus Images Ltd
Sportech has entered into exclusive talks with private equity firm Burlywood Capital to sell the Football Pools for £97.25m.
The deal for the world's oldest football gaming company will be bankrolled through a combination of debt and equity, with Sportech saying the deal 'represents an attractive opportunity' following a modernisation programme.
The company revealed that Burlywood's management team has proposed setting up a new AIM-listed company, chaired by Sportech's former chief operating officer Ian Hogg, which will then acquire the Pools.
Last month Sportech said that operating profit for the Liverpool-based Pools came in at £7m.
Sportech consists of three divisions - Sportech Racing and Digital, Sportech Venues and The Football Pools.
You may also want to watch:
- 1 'I can't carry it' - Shock as plant starts growing eight inches a day
- 2 See inside the 'tiny mobile homes' built from scratch for £95,000
- 3 School shut after ceiling tile falls on to class of children
- 4 Amazing photos show storms over Norfolk – and there are more to come
- 5 Man in 20s drowned in Bawsey Country Park lake
- 6 Cat food brands recalled over link to fatal disease
- 7 Elderly man took his clothes off at Norwich park
- 8 Two Norfolk villages named among most beautiful to visit in England
- 9 Man, 20, who drowned at Bawsey Pits is named
- 10 Tributes to popular Tesco worker with 'sparkling personality'