Sportingbet says Centrebet deal terms agreed

SPORTINGBET yesterday agreed terms for its acquisition of Australian online bookmaker Centrebet, which it will look to fund by raising £130m through the issue of new shares and a convertible bond.

Sportingbet will issue 154,761,904 new shares at a price of 42p each and £65m in nominal value of convertible bonds. Chief executive Andrew McIver said the deal would make it the leading corporate bookmaker in the “fast-growing” Australian market.