Perform Group to be delisted as Blavatnik takes control

Perform Group to be delisted as Blavatnik takes control

Thursday, November 13, 2014

Perform Group, the digital sports media company that has a significant interest in the betting and gaming industry, is to be delisted from the London Stock Exchange after being taken over by Access Industries, the private investment group owned by billionaire Len Blavatnik.

Access now effectively controls 77 per cent of Perform, which operates the Watch&Bet live streaming service and sports data providers RunningBall and Opta.

“Access Industries has confirmed that it now holds, or has been offered, a total of 77 per cent of Perform shares,” Perform said today.

“This level of ownership starts a delisting process for the company, which is likely to happen around the 5th December this year.”

After surpassing the 50-per-cent stake threshold last month, Access was automatically obliged to acquire all shares offered to it by shareholders at a price of 260p per share – the value of Access’ previous “final offer” takeover bid for Perform.

Access confirmed to TotallyGaming.com this morning that its offer for Perform will close at 1pm UK time on December 2 “and will not be further extended”.

“Any further acceptances of the offer must be received by that time,” Access said, before adding that it had written to Perform shareholders to inform them of the closing date of the offer.

Perform had originally advised its shareholders to reject the offer, saying that it undervalued the company.

Blavatnik had previously controlled 42.5 per cent of Perform before increasing his shareholding to a controlling stake.

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