November 17, 2017 / 12:36 AM / a year ago

Australian Competition Tribunal gives nod to Tabcorp's takeover of Tatts

Nov 17 (Reuters) - The Australian Competition Tribunal said it would let Tabcorp Holdings Ltd buy lotto giant Tatts Group Ltd for A$6.15 billion ($4.67 billion), after an antitrust regulator raised concerns about the deal.

The tribunal, which is affiliated with the Federal Court, said on Friday that Tabcorp, the country’s biggest horse race betting house, must divest its Odyssey Gaming business in Queensland to complete the deal.

The merger will likely result in public benefits, if it were to go through, it added. ($1 = 1.3179 Australian dollars) (Reporting by Aaron Saldanha in Bengaluru; Editing by Himani Sarkar)

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