March 12, 2018 / 7:10 AM / 2 months ago

Penta raises stake in Czech betting firm Fortuna

PRAGUE, March 12 (Reuters) - Czech-Slovak group Penta Investments has raised its stake in betting firm Fortuna Entertainment Group to 95.8 percent after buying shares from the largest minority shareholder Franklin Templeton, Fortuna said in a filing.

Penta acquired Franklin Templeton Investments’ 10.6 percent share through its Fortbet Holdings subsidiary.

It aims to de-list Fortuna from the Prague and Warsaw stock exchanges and the stake acquisition helps it cross a threshold allowing a forced buyout of remaining shareholders.

Reporting by Jason Hovet

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