Deals
Perelman Nears Scientific Games Stake Sale to Caledonia
- Investor group is set to pay $28 per share for the stake
- Billionaire said in July he would explore sale of his holdings
Ronald Perelman
Photographer: Chris Goodney/Bloomberg
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Billionaire Ronald Perelman has agreed to sell his stake in Scientific Games Corp. to a group of investors that includes Australian investment firm Caledonia, which plans to overhaul the betting company’s board and strategy.
The acquirers are set to pay $28 per share for Perelman’s 34.9% stake in Las Vegas-based Scientific Games, which provides gambling products and services such as slot machines, the company said in a statement on Monday, confirming an earlier Bloomberg News report. That’s a 48% premium to the company’s closing price Friday of $18.97 and values the stake at about $925 million.