Japanese playing card firm Angel to buyout GPI in US110 million deal

first_img JW Marriott at Galaxy Macau named venue and Galaxy Entertainment Group named Venue Sponsor for 2019 Asian Gaming Power 50 Black Tie Gala Dinner Gaming Partners International Corporation (GPI) has entered into a merger agreement with Japanese playing card giant Angel Holdings that will see Angel acquire the US-based table game equipment supplier for US$110 million.GPI announced this week that stockholders holding around 51% of the company’s outstanding shares have signed a voting agreement in support of the transaction, with stockholders to be paid US$13.75 per share. Sale of the century Load More Osaka approves Yumeshima site for commercial development in latest IR move RelatedPosts Once complete, Angel will own 100% of GPI. However, GPI retains the right to negotiate with other potential buyers until 2 February 2019.The company said it does not intend to disclose developments in relation to this process “unless and until its board of directors has made a decision with respect to any potential superior proposal.”Angel is one of the world’s leading suppliers of playing cards and holds a significant majority of market share in Macau.last_img

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