In press releases separately put out by both companies today, bwin and PartyGaming have released details of their merger plans.
In the press release from bwin, Norbert Teufelberger, Co-CEO of bwin explains, “The online gaming industry is going through a phase of consolidation, making market players’ size and geographic diversification more crucial than ever.”
The new company will operate worldwide with its existing brands under the name of bwin.party digital entertainment pl.
You can read all the details here: bwin merger press release
In the press release from PartGaming, you can find the summary of the expected timetable to completion and a link to the prospectus of the merger plans. The tentative timetable according to PartyGaming is:
bwin EGM – 10.00 a.m. (CET) on 28 January 2011
PartyGaming EGM – 2.00 p.m. (CET) on 28 January 2011
PartyGaming Court Hearing to sanction the Merger – 15 March 2011
Last day of dealings in Existing bwin Shares – 25 March 2011
Last day of dealings in Existing PartyGaming Shares and Effective Date – 31 March 2011
De?listing of Existing bwin Shares from the Vienna Stock Exchange – close of trading on 31 March 2011
De?listing of Existing PartyGaming Shares from the London Stock Exchange – 8.00 a.m. (London time) on 1 April 2011
Expected Admission and commencement of dealings in bwin.party Shares, Completion – 8.00 a.m. (London time) on 1 April 2011
CREST accounts expected to be credited with Depositary Interests in respect of the bwin.party Shares – on or around 1 April 2011
You can read all the details here: PartyGaming merger press release