GVC Windfall<\/strong><\/h2>\nGVC announced the Ladbrokes Coral deal would go ahead and that the CVR would be zero, in accordance with the terms. But the subsequent announcement that the stakes would not be slashed until April 2020, allowing GVC to make an additional \u00a31 billion from the machines until that date, has caused NPR to cry foul.<\/p>\n
NPR claims pension fund managers that held shares in Ladbrokes Coral are being \u201cdiddled\u201d out of CVR. It has also criticized the government for railroading legislation, despite knowing it would give GVC \u201ca \u00a3700 million windfall,\u201d which, it claims, \u201crightfully belongs to UK pensioners.\u201d<\/strong><\/span><\/p>\n\u201cThese are highly emotive claims which are inaccurate and ill-founded,\u201d said GVC in an official statement. \u201cGVC\u2019s takeover of Ladbrokes was conducted to the highest standards of City governance. A decisive 99.98 per cent of Ladbrokes shareholders voted for the agreement, which was comprehensively documented in the fully-verified circular sent to all shareholders.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
GVC Holdings has rejected claims that the structure of its recent takeover of British bookmaking giant Ladbrokes Coral has enabled it to \u201cswindle\u201d hundreds of millions from pension funds invested in its new acquisition. The little-known National Pensioners Convention (NPC) has accused GVC of perpetrating a \u201cGreat Pensions Robbery\u201d that deprives pension holders of some […]<\/p>\n","protected":false},"author":36,"featured_media":87171,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,21,10,13592],"tags":[],"acf":[],"yoast_head":"\n
GVC Holdings Denies 'Pension Robbery' in Ladbrokes Coral Takeover<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n