Billionaire heiress builds up shareholding in Playtech, muscling her manner into £2.7bn three-way takeover tussle for playing software program firm
A billionaire heiress to a Hong Kong soy milk empire has constructed up a shareholding in Playtech, muscling her manner into a posh £2.7billion three-way takeover tussle for the net playing software program firm.
Karen Lo, via her Future Capital Group, just lately got here on to the Playtech shareholder register and now owns nearly 5 per cent of the shares.
Lo is well-known in Hong Kong excessive society and is the granddaughter of Dr Lo Kwee-seong, founding father of Vitasoy, a Hong Kong-listed drinks behemoth.
High stakes: Karen Lo, proper, with fellow Hong Kong socialite Betty Cheng
Lo’s stakebuilding, revealed in regulatory filings, comes after Playtech beneficial a £6.80-a-share supply from Aristocrat Leisure, Australia’s largest gaming machine maker.
Lo has been paying round £7.50 for shares, puzzling some market watchers as a result of she would make a loss if the Aristocrat deal went via on the present worth.
But rival acquirers are circling. A consortium led by Formula 1 group proprietor Eddie Jordan and Gopher, a Hong Kong-based car backed by banker Teresa Teague and John Bond, son of former HSBC chairman Sir John, have declared an curiosity in shopping for some or all of Playtech.
Other Asian buyers have been accumulating stakes too, additionally paying greater than the supply worth.
Paul Suen, who has shareholdings in Birmingham City Football Club and Les Ambassadeurs on line casino in London, owns greater than 4.1 per cent whereas Tang Hao and Stanley Choi have acquired stakes.