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Japanese playing card firm Angel to buy-out GPI in US$110 million deal

Newsdesk by Newsdesk
Wed 28 Nov 2018 at 15:08
Print Friendly, PDF & Email

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.

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.

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Tags: Angel HoldingsGaming Partners InternationalGPIJapanMacaumerger
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Newsdesk

Newsdesk

The IAG Newsdesk team comprises some of the most experienced journalists in the Asian gaming industry. Offering a broad range of expertise, their decades of combined know-how spans multiple countries across a variety of topics.

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