OFT clears Barcrest sale

THE Office of Fair Trading (OFT) has waved through the £35m sale of Ashton-under-Lyne-based Barcrest Group to US buyer Scientific Games Corporation.

The deal, which was announced in April, had been under threat of an investigation from the Competition Commission as the US firm already owns rival businesses The Global Draw Games Media.

However, the OFT announced yesterday that under the information available to it, it has decided not to refer the merger, allowing the deal to complete.

In the year to September 30, 2010, Barcrest Group made a pre-tax profit of £2.5m
on sales of £31.3m. Scientific Games Corporation has agreed to pay Barcrest’s owner, International Game Technology, an upfront sum of £3m, plus up to £2m in deferred consideration for the company.