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26/03/2010
Lotto Operator Sold To Canadian Firm
Camelot, the company which runs the UK National Lottery, has been sold to a Canadian firm for £389m.
Shareholders, who include Cadbury Holdings Ltd, De La Rue Holdings plc, Fujitsu Services Ltd, Royal Mail Enterprises Ltd and Thales Electronics plc, have agreed to sell their interest to Ontario Teachers’ Pension Plan.
Completion of the transaction is conditional upon approval from Camelot’s regulator,
the National Lottery Commission.
Lee Sienna, Vice President, Long Term Equities, Teachers’, said: "Camelot is a world-class lottery business with substantial opportunities to grow both domestically and internationally.
"Teachers’ takes a long-term view of its investments, providing an environment of stability, commitment and continuity in the businesses it invests in, and is committed to supporting Camelot’s management team in delivering its plans for the business.
He continued: "We maintain the highest standards in relation to management and governance, which we see as particularly important in the case of Camelot, given its unique role in raising money for the Good Causes."
Dianne Thompson, Chief Executive of Camelot, said: "We welcome Teachers’
commitment to The National Lottery’s ongoing success, and look forward to the
opportunity of working with them to continue our progress in developing the business
and delivering even more money for the Good Causes."
(PR/GK)
Shareholders, who include Cadbury Holdings Ltd, De La Rue Holdings plc, Fujitsu Services Ltd, Royal Mail Enterprises Ltd and Thales Electronics plc, have agreed to sell their interest to Ontario Teachers’ Pension Plan.
Completion of the transaction is conditional upon approval from Camelot’s regulator,
the National Lottery Commission.
Lee Sienna, Vice President, Long Term Equities, Teachers’, said: "Camelot is a world-class lottery business with substantial opportunities to grow both domestically and internationally.
"Teachers’ takes a long-term view of its investments, providing an environment of stability, commitment and continuity in the businesses it invests in, and is committed to supporting Camelot’s management team in delivering its plans for the business.
He continued: "We maintain the highest standards in relation to management and governance, which we see as particularly important in the case of Camelot, given its unique role in raising money for the Good Causes."
Dianne Thompson, Chief Executive of Camelot, said: "We welcome Teachers’
commitment to The National Lottery’s ongoing success, and look forward to the
opportunity of working with them to continue our progress in developing the business
and delivering even more money for the Good Causes."
(PR/GK)
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