25 March 2010
Camelot has been informed by its shareholders – Cadbury Holdings Ltd, De La Rue Holdings plc, Fujitsu Services Ltd, Royal Mail Enterprises Ltd and Thales Electronics plc – that they have agreed to sell their shareholdings in Camelot to Ontario Teachers’ Pension Plan (“Teachers’”), for a combined expected consideration of approximately £389 million. Completion of the transaction is conditional upon approval from Camelot’s regulator, the National Lottery Commission.
Lee Sienna, Vice President, Long Term Equities, Teachers’, said: "Camelot is a world-class lottery business with substantial opportunities to grow both domestically and internationally. Teachers’ takes a long-term view of its investments, providing an environment of stability, commitment and continuity in the businesses it invests in, and is committed to supporting Camelot’s management team in delivering its plans for the business. We maintain the highest standards in relation to management and governance, which we see as particularly important in the case of Camelot, given its unique role in raising money for the Good Causes.” Dianne Thompson, Chief Executive of Camelot, said: “We welcome Teachers’ commitment to The National Lottery’s ongoing success, and look forward to the opportunity of working with them to continue our progress in developing the business and delivering even more money for the Good Causes."
Kinmont, which is authorised and regulated in the United Kingdom by the Financial Services Authority, acted as financial adviser to Camelot.
Camelot Press Office: 020 7632 5711
Financial advisors to the Camelot shareholders:
Edward Wakefield (Greenhill & Co International LLP): 020 7198 7417
and Ben Davey (Rothschild): 020 7280 5211
Teachers’: Dudley White, Edelman PR (0203 047 2073) or
Ben Burton, Edelman PR (0203 047 2069) or
Deborah Allan, Director – Communications, Teachers’: (416) 730 5347