INTEREST IN RANK PLC INTENSIFIES

11 July 2008

Goldman Sachs increases holding to 16.1 percent in Brit gambling group


Adding to the interest and purchase of Rank plc shares this week is the news that investment bankers Goldman Sachs has increased its holding in the British land and online gambling group by 11 percent to 16.1 percent, making it the second biggest shareholder after the Malaysian Guoco group, which pushed its shareholding in Rank up to 17.08 percent earlier this week (see previous InfoPowa report)

With similar interest from the Malaysian Genting Berhad group (11 percent) and the UK property development firm Richardson Capital (also 11 percent) speculation is growing that a takeover attempt on the troubled Rank group may be imminent.

In February this year Rank’s announcement that it intended to transfer its final pension scheme to Goldman Sachs was widely interpreted by industry observers as opening the way for the sale or break-up of the Rank business.

Online Casino News courtesy of InfoPowa