CVC takes majority stake in betting firm Tipico

April 24, 2016 7:50 PM

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FRANKFURT, April 24 Funds advised by private equity group CVC Capital Partners on Sunday signed a binding agreement to acquire a majority stake in betting firm Tipico, Germany's largest private sports betting group, CVC said.

Privately-held Tipico - a sponsor of soccer clubs like FC Bayern or Hamburg's HSV - was put up for sale by its founders in a recent auction.

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