Gala Coral denies OpCapita bid

16 February 2015

Gambling group Gala Coral has rejected reports that it has held talks with private investment firm OpCapita over the potential sale of its Gala Retail business.

Various reports in the media had suggested that OpCapita has submitted a bid for Gala Retail, an arm of the business that the gambling group has already confirmed it is considering selling.

However, despite confirming that it is undertaking a process to explore the possibility of selling Gala Retail, the group has denied receiving a bid from OpCapita.

“Gala Coral can confirm that there are currently no discussions taking place with OpCapita,” Gala Coral said in a statement.

“The process is ongoing and a dialogue is taking place with a number of interested parties.”

Despite having denied the Gala Retail bid, Gala Coral did confirm that its Propco Three Limited property subsidiary has completed the sale of a further five properties to M&G Investments.

The sale comes after iGaming Business reported last month that the group had offloaded 47 of its land-based properties M&G Investments, with the total consideration for all 52 properties sold amounting to £173.4 million (€234 million/$267.3 million).

As part of the deal, Gala Retail has purchased five properties Propco for £1.1 million.

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