A newly privatised Française des Jeux (FDJ) has sought to strengthen its retail operations by sanctioning a purchase of Bimedia’s French payment solutions provider.
The newly listed Paris Exchange betting company reports that it has entered into an agreement with Idinvest Partners, the European private equity fund, to buy its Bimedia property for’ less than € 50 million.’
Updating shareholders, FDJ Governance says that its Bimedia acquisition would greatly broaden the company’s retail network services, taking control of Bimedia’s 6,400′ points of sale ‘ terminals, representing 90% of France’s tobacco and newsagents.
FDJ management has described the Bimedia transaction as crucial to the strategic vision of the company 2025, which seeks to modernise the FDJ distribution network and further diversify the customer services of the organisation.
FDJ Governance confirms that the completion of its Bimedia transaction will be subject to regulatory approvals and conditions, including a review of the French Competition and Markets Authority’s acquisition bid.
FDJ completed a successful float on the Paris Euronext Exchange this November, securing a + 1 billion euro over-subscription from public investors in its first stage IPO.
An oversubscribed FDJ is currently trading at € 21,80 per share, well above its target range of € 16,50-19,90 listings–valuing the second largest lottery operator in Europe at+ € 4 billion.