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Beacon Bingo could be sold |
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Written by Jayne Wilson
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Sunday, 21 February 2010 12:35 |
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Beacon the operator of Beacon Bingo clubs and Showboat amusement arcades could be on the brink of sale according to an article from Rueters. Beacon is currently owned by the banks under an appointed CEO Brian Mattingley.
The banks however are believed to be looking to release the cash they have held in the businesses and Praesepe an established gaming company with high street arcades are looking to complete a deal worth around £45 million.
Last week Nick Harding CEO of Praesepe stated "We are considering several potential acquisition opportunities, both in the UK and Europe, and the proceeds of this Placing will assist us to continue our acquisitive strategy." A report in the IBTimes confirmed that the group was in advanced discussions with a private UK company and the potential aqusition would constitute a reverse takeover.
Details on the potential takeover are still emerging and Bingo Supermarket will release the news as it becomes available and confirmed. |
