The merger between PartyGaming and Bwin has been finalized, as the Vienna Commercial Court has entered the deal into each company’s register. Both companies have also announced that the deal will be complete on March 31, 2011.
Bwin and PartyGaming have been in negotiations for quite some time, causing many industry spectators to wonder whether or not they would ever complete the deal. For a merger this size, however, it is not uncommon for the deal to take months or even years to complete, so it seems that Bwin and Party Gaming are right on schedule.
The two companies had to hold shareholders meetings to find out if all parties involved were on board. Fortunately, both sets of shareholders showed overwhelming support for the merger, making the rest of the business deal take off smoothly.
On March 25th, bwin shares will no longer be traded on the Vienna Stock Exchange. Then, on April 1st, the company’s shareholders will receive 12.23 depositary interests for the new bwin.party for each of their previous bwin shares.
After the two companies finally become one, it will be the world’s biggest online gambling operator. The deal has spawned interest in many other companies in the industry, as some of the market’s biggest names are now looking to merge with other important industry players.