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Skywind seeks to rescind £51m In Touch Games acquisition over fraud allegations

Deals & M&A

Skywind is seeking to undo its acquisition of In Touch Games through amended court filings alleging fraud involving the target’s software and regulatory disclosures, reportedly. Skywind bought the company for about £50.8 million in June 2022 and now seeks to rescind a settlement deed and recover up to £63.4 million in payments and damages. Simon Wilson denies that fraud or data manipulation took place.

The claim puts the acquisition settlement and up to £63.4 million in claimed payments and damages in dispute.

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Deals & M&A

Capula takes €65 million positions in CIRSA-Lottomatica merger

Capula Investment Management has taken positions in CIRSA and Lottomatica ahead of their proposed merger, reportedly seeking to benefit from a difference in their share prices and the exchange value. Its declared CIRSA exposure is about €30 million, while its short position in Lottomatica is valued at about €35 million; the integration is planned for Q2 2027, subject to approvals.

Capula Investment Management has reportedly taken positions in CIRSA and Lottomatica ahead of their planned merger. The arbitrage strategy seeks to benefit from differences between the companies' share prices and the value resulting from the deal.

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