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BUZZ-Australia's Aristocrat Leisure falls on $820 mln Plarium sale to Modern Times

Reuters
Nov 12, 2024
BUZZ-Australia's Aristocrat Leisure falls on $820 mln Plarium sale to Modern Times

** Shares in poker giant Aristocrat Leisure ALL.AX slip 1.2% to A$64.8, after hitting a record high in early trade

** Co says unit to sell Plarium business, best known for role-playing game RAID: Shadow Legends, for an enterprise value of $820 mln

** Says deal is for its mobile gaming business with Sweden-based mobile game publisher Modern Times Group MTGb.ST

** Adds deal proceeds will fund long-term strategy per its capital allocation framework

** "We previously estimated sale proceeds of ~A$1.7 (billion) - A$2.3 billion but noted downside risk bias to this range as the bookings data weakened" — Citi

** ALL up 60.5% YTD vs MTGb down ~11%, including current session, as of 2339 GMT

(Reporting by Kumar Tanishk in Bengaluru)

((Tanishk.Kumar@thomsonreuters.com))

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