Kindred Group announces changes to Board of Directors following La Française des Jeux buyout

Malta-based Kindred Group plc has received the resignations of six directors following the conclusion of a public offer by La Française des Jeux (FDJ) to acquire the entire outstanding share capital of Kindred.

FDJ holds 91.77 per cent of the shares and voting rights in Kindred as of 2nd October 2024, which was the end of the first acceptance period of the public offer launched by FDJ on Kindred.

The transaction, worth nearly €2.5 billion, will create “a European gaming champion”, said FDJ.

After the settlement of the public offer, Kindred Group’s Board of Directors received the resignations of the Chairman of the Board, Evert Carlsson, and the Directors James H. Gemmel, Cédric Boireau, Andrew McCue, Jonas Jansson and Kenneth Shea.

The resignations were effective as of Monday (yesterday).

Heidi Skogster and Martin Randel will remain directors until their term of office expiring on Kindred’s next annual general meeting to be held in 2025.

FDJ proposed the election of Pascal Chaffard, Edeline Minaire and Célia Vérot as new Directors in replacement of the resigning Directors and in order to fill some of the casual vacancies arising as a result of the above-mentioned resignations.

The appointment of such Directors shall be for a term which shall expire at Kindred’s next annual general meeting to be held in 2025.

Mr Chaffard has been elected as new Chairperson of the Board. He joined FDJ in 1994, and has held the positions of Head of Strategy and Transformation (2010-2013), Product Marketing Director (2006-2009) and Financial Planning and Analysis Director (2001-2006). He is currently Executive Vice-President Finance, Performance and Strategy.

About Kindred Group

Kindred Group is a leading online gambling operator with business across Europe and Australia, boasting over 30 million customers across nine brands. The company, which has offices in Malta, employs approximately 2,500 people, and is currently listed on Nasdaq Stockholm Large Cap.

About La Française des Jeux

La Française des Jeux (FDJ) is the operator of France’s and the Republic of Ireland’s national lottery games. The company was previously owned and operated by the French government, but sold half of its majority stake in 2018. In addition to lottery games, the company also provides online games and sports betting markets, such as association football, cycling, rugby union, and track and field.

The new combined group resulting from this offer will generate around 26 per cent of its revenue internationally, and its online gaming range open to competition will account for around 27 per cent of its business, according to FDJ.