IAS Withdraws Sale
By Staff
After twelve months, Sydney-based online gaming operator International All Sports (IAS) Limited has taken its Australian operations off the market because it had not been offered an acceptable price.
IAS operates the popular online sportsbetting site Canbet.com alongside its Australian mirror at Canbet.com.au and stated that it decided to place its operations up for sale after receiving several unsolicited approaches in September of last year.
“The board, through its sale agents VMC Global Party Limited and Torch Partners Corporate Finance Limited, has conducted an exhaustive process both domestically and internationally in search of potential bidders for its principal business, namely the IASBet.com business,” read a statement from IAS.
“During the sales process, the board received further indicative expressions of interest for the business. However, in all instances either the price offered or conditions being sought by prospective purchasers would not have been in the best interests of the company or its shareholders. Accordingly, the board has resolved to withdraw the Australian operations from sale.”
IAS revealed that shareholders would have the opportunity to ask questions regarding its most recent announcement at a forthcoming annual general meeting scheduled for November 25.
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