Tag Archives: Lazard

Caledonia Investments acquires Gala Bingo retail division for £241 million

Gala Coral has this morning announced the sale of its Gala Bingo retail division to private trust Caledonia Investments for a total consideration of £241 million. The sale of the division is expected to be completed within two months, upon approval from the UK Gambling Commission. Under its new ownership Gala Bingo Retail will retain Simon Wykes as its CEO. …

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Suitors eye up Gala Bingo acquisition

A group of potential acquiring companies interested in Gala Coral Groups retail bingo division, Gala Bingo has been revealed by UK business news sources. Gala Coral governance has been in the process of selling its 130 retail bingo halls, either via a complete division acquisition or individual sale of the division assets. UK business news sources have named German gambling …

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Gala Coral denies OpCapita retail bid

Gala Coral management has moved to dismiss reports that it has held acquisition talks with international private equity firm OpCapita, over the sale of its Gala retail business unit. Last week UK business news sources reports that OpCapita had submitted an undisclosed bid for Gala Retail gambling division, a business unit that Gala Coral has considered selling in the past. …

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Gala Coral sells 47 UK bingo clubs to M&G Investments

Gala Coral has sold 47 of its UK bingo properties to Investment and equity management firm M&G Investments in a deal valued at £173 million. The deal will see M&G takeover 40% of Gala Corals 127 UK bingo sites, with 36 of the clubs being freehold properties. The acquired property portfolio from Gala Coral will further see M&G gain 12 …

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Gala Coral hires Lazard as bingo sale adviser

Gala Coral Group has hired bankers Lazard as strategic adviser for the sale of its 130 retail bingo clubs. UK business sources have indicated that Lazard are seeking to sell Gala Coral’s retail bingo division for an estimated £250 million. A Gala Coral statement confirmed that the operator had “commenced a process to explore the possibility of a disposal of …

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