M&A

Paddy Power Betfair acquires Georgian operator Adjarabet

PPB takes a controlling stake in the operator for £101m with plans to acquire the remaining 49% after three years

Paddy Power Betfair (PPB) has acquired a controlling stake in Georgia-facing online operator Adjarabet for £101m in an effort to diversify PPB’s European online business. The deal will see PPB acquire a 51% stake in Adjarabet with plans to acquire the remaining 49% after three years at a valuation equivalent to 7x Adjarabet's 2021 EBITDA. Tbilisi-based…

Adjarabet | Betfair | Georgia | M&A | Paddy Power | Paddy Power Betfair | Peter Jackson

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