LAWFUEL – UK Law News – Slaughter and May is advising Citigroup and HSBC, as joint financial advisers to Genting International, on a recommended cash offer for Stanley Leisure plc. The offer is at a price of 860 pence per share and values Stanley Leisure at approximately £639 million. Genting International has an interest in or commitments over approximately 30.5 per cent. of Stanley’s issued ordinary share capital and the offer will be made in accordance with Rule 9 of the Takeover Code.
The offer that was announced on 11 September, 2006 was made by GII UK, a wholly-owned subsidiary of Genting International plc.
Genting International is the global gaming arm of the Genting Group, one of Malaysia’s leading multinational corporations. Stanley Leisure is a UK gaming company whose principal interests are casinos.