Loto-Quebec acquires a minority stake in French society Moliflor MONTREAL, Dec. 21 / CNW Telbec /-Loto-Quebec acquires a minority stake in Moliflor Entertainment Holdings, a company that controls French group operating 20 casinos in UK. .
The Company quebecoise state becomes a partner of Bridgepoint Capital and Team Steering Moliflor, which have acquired the group November 16, 2005. Loto-Quebec was approached because of his experience and his ability Innovation in the casino sector.
Authorized by the Government quebecois, the realization of his equity is now before has the approvals of the relevant French authorities, including foreign investment, competition and regulation games.
Approaching 10 %. Subject to approvals french, investment Loto-Quebec will amount to approximately $ 80 million (58 million euros ). Bridgepoint Capital’s strategy is to combine the skills Loto-Quebec and its suppliers to that of the group’s management Moliflor to maximize the group value, maximize revenue and allow it to s expansion in the french and european markets.
An international expansion that occurs at the right time “Our participation in Moliflor allow us to continue our growth while resulting in some interesting economic benefits for Quebec, especially for professional service providers, says Mr.
Alain Cousineau, President and Chief Executive Officer of Loto-Quebec. Financed by borrowing, this expansion will not affect the foreign debt government and will increase the profits of Loto-Quebec. This is an excellent business opportunity.
