Ainsworth shareholder meeting regarding sale to go ahead

The Australian Takeovers Panel has opted against any further action against the acquisition of Ainsworth Game Technology from Austria’s Novomatic, local media reports.

In May, the Australian Takeovers Panel received applications from Australian Securities and Investments Commission as well as Fortress Centaurus Global Master Fund in regards to the sale.

Despite an 11th hour injunction to stop the shareholder meeting from hedge fund giant Fortress Investment Group last weekend, arguing that shareholders did not have enough time to consider earlier issues raised by the takeovers panel, it is understood the panel has decided against any further action.

Should the vote be in favor of the sale as expected, Novomatic will take the stake once the necessary approvals are received.