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EU Okays Gala, Candover, Cinven Deal14 March 2003BRUSSELS – As reported by the Dow Jones: The European Union Commission Friday approved the GBP1.24 billion (US$1.96 billion) purchase of the U.K.'s Gala Group Limited by Candover Investments PLC and Cinven Group Ltd. . "Gala specializes in casino operations, online gaming, and bingo outlets. It is the largest bingo operator in the U.K. with a market share of 40%. "…In buying Gala, Cinven and Candover want to profit from deregulation of the U.K. gaming industry scheduled to take place in 2005. "Gala hopes that Candover and Cinven will help it remain the U.K.'s fastest growing retail gaming organization, even if deregulation introduces new competition…" |