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Ainsworth set to sell shares to Novomatic

2016-05-01 09:55:41

Billionaire Len Ainsworth has announced that he is considering selling his Ainsworth Game Technology shares, totalling approximately 500 million Australian dollars and making up for 53-percent of the company, to Austrian company Novomatic. Len Ainsworth is the founder of Aristocrat, the world’s second-biggest gaming company, and founded another similar company, Ainsworth Game Technology, twenty years ago, at the age of 72.

Ainsworth’s attempt to sell off 53 percent of his shares can only then succeed if 50 percent of minor shareholders agree to the move. It is yet unclear whether Gretel, Len Ainsworth’s wife, who owns ten percent of the company, will be allowed to cast her vote. This decision will be down to a committee, consisting of four independent company directors.