Unibet shareholders approve Kambi spin-off

Unibet shareholders have approved the spin-off of B2B sports betting subsidiary Kambi Group Limited at the company’s annual general meeting held earlier this week.

Unibet will distribute all its stock holding in Kambi to Unibet shareholders during June 2014.

Kambi will apply for its shares to be listed on the NASDAQ OMX First North exchange in Stockholm during the same month.

“The proposal to distribute Kambi to Unibet shareholders is the logical conclusion of the separation process that has been developed over the last couple of years,” commented Henrik Tjärnström, chief executive officer of Unibet. “In that period, Unibet has focused its business on excellence in customer relationship management, while Kambi has been able to concentrate on development of its market-leading sports betting services. While Kambi has an excellent offering, its opportunity to maximise the value of those services is limited while it is under the ownership of Unibet. Separation will make it easier for Kambi to access wider markets.”

Kambi Group Limited will be renamed Kambi Group plc.