Shareholders approve Bwin PartyGaming merger

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Shareholders in online betting and gaming providers Bwin Interactive Entertainment AG and PartyGaming voted on Friday to endorse the planned merger of the two gaming giants.

The pair announced at the end of July that they had formalised plans to come together in order to create the world’s largest listed online gambling company and realise annualised synergies from 2013 of around €55 million.

The amalgamated firm will operate both constituent’s existing brands worldwide from Gibraltar under the name Bwin.Party Digital Entertainment plc with current Bwin shareholders having a 51.7 percent shareholding while PartyGaming will hold 48.3 percent.

The merger is worth around €2.41 billion and will see the new concern listed on the London Stock Exchange and jointly run by the current Chief Executive Officers of the two companies, Jim Ryan and Norbert Teufelberger.

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