Termination of discussions with Gala Coral Group
On 30 January 2012, The Rank Group Plc ('Rank' or 'the Group') announced that it was in discussions with Gala Coral Group ('Gala') about a potential acquisition of Gala's casino business. Rank today announces that these discussions have ended after it became clear that the proposed terms of the acquisition would not serve the best interests of Rank's shareholders.
Rank's chairman and chief executive officer Ian Burke commented, ''Rank remains committed to delivering sustainable growth in shareholder value; the proposed terms of the potential acquisition did not achieve this objective. We will now concentrate on delivering our organic growth plans, including the delivery of 12 more G casinos by 2015."
~ ends ~
Enquiries:
The Rank Group Plc
Philip Munn, investor relations 01628 504 149
Evercore Partners Limited
Edward Banks 020 7268 2700
FTI Consulting
Marc Cohen 020 7831 3113
This information is provided by RNS