11 Oct 2006
Genting gains control of Stanley Leisure
Genting International, the Malaysian entertainment group, has confirmed that its £639m takeover bid for Stanley Leisure has received 17.95 million acceptances from the UK casino operator’s shareholders.
Genting said it now has control of around 25.3 per cent of Stanley’s current issued ordinary share capital, saying “the condition of the offer has now been satisfied and is therefore unconditional”.
Genting chair, president and chief executive officer Tan Sri Lim Kok Thay said: “We are very pleased with this result and the speed with which our offer has succeeded.
“It is relatively unusual to have achieved this level of acceptances at the first closing date. We are keen to acquire full control of Stanley through further acceptances of the offer.”
Stanley operates 45 casinos in the UK, making it the country’s largest operator. Details: www.genting.com
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