Wed, 08 Jan 2020 | DIVISION SALE
Online gaming platform operator Nektan Plc has announced that its administrators PCR London LLC have sold its UK B2C business to Grace Media for £200,000.
The sale forms part of Nektan’s wider restructuring and comes after the appointment of Mark Phillips and Julia Swan of PCR London as administrators earlier in the week.
The most recent audited accounts of Nektan’s UK B2C business date from the year ending June 2018 and show the business delivering turnover of £19.4 million and making a loss.
Additionally, Nektan has entered into a B2B partnership with Grace Media, which is part of the Active Win Group, in order to facilitate continued service delivery to its existing UK B2C white label partners, with Nektan receiving ongoing monthly royalties from Grace Media.
Nektan has said that the sale will have no operational impact on it or on any of its subsidiaries, which will continue trading as normal. It also said that the sale and restructuring would allow it to target emerging markets with a stronger balance sheet.
Nektan Interim Chief Executive Gary Shaw described the deal as “very reassuring to all stakeholders involved” and added: "We look forward to working in partnership through the business-to-business relationship with the buyer as they take the business forward."
Active Win Group Chief Executive Warren Jacobs said: "The opportunity to acquire the UK B2C business allows Active Win Group to expand further into the UK online casino market, furthering our growth in this market from being a white label operator ourselves, to working with the full complement of business partners established by Nektan in recent years.”
A uniquely designed and branded beauty business opportunity offering both male and female ‘Sprucing and Beautification’ services. The business opened its doors 5 years ago and due to the time required by our client on his other business interests is...
LEASEHOLD
Fully-refurbished premises. Minimal competition. High annual turnover. Prime location. Excellent reputation. A new owner would be able to take advantage of the business’s state-of-the-art facilities as well as its brilliant reputation to continue tra...
LEASEHOLD
Very well established business with impressive reputation & referral client base providing 'one stop' design-to-completion manufacturing service of bespoke luxury park holiday homes from extremely well fitted workshop & office premises in excellent c...
LEASEHOLD
|
05
|
|
Jun
|
Azzurri Group exploring options for sale | BUSINESS SALE
Azzurri Group has engaged advisers to explore a potential sa...
|
04
|
|
Jun
|
Frankie & Benny’s owner to permanently close 120 restaurants | BUSINESS NEWS
The Restaurant Group, which owns chains including Frankie & ...
|
03
|
|
Jun
|
28 Oddbins stores saved after acquisition by unnamed buyer | BUSINESS SALE
28 Oddbins stores will remain open after the off-licence ret...
Sign up to receive our acquisition alert emails to get your FREE guide
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources