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Playtech investor Gopher pulls out of potential takeover battle

FILE PHOTO: Businessman toy figure is placed on gambling chips in front of displayed Playtech logo in this illustration taken

(Reuters) -Gopher Investments, the No.2 shareholder in Playtech, walked away from a potential three-way takeover battle for the British gambling software maker on Friday, saying it was committed to a separate deal to buy a portion of the business.

Playtech's shares were trading 5% lower at 7.3 pounds by 1233 GMT, giving up all of gains made in the last session after the company said it had received a takeover approach from JKO, a group led by former Formula One boss Eddie Jordan.

Gopher said the process relating to its $250 million deal to buy Playtech's financial trading division, Finalto, was ongoing and expected to close next year second half.

Hong Kong-based Gopher, which has a 4.97% stake in Playtech, had gatecrashed an earlier sale agreed between Playtech and a consortium led by Israeli private equity firm Barinboim for the unit.

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Playtech, founded at the turn of the millennium and today the world's largest online gaming software supplier, declined to comment on the Gopher announcement on Friday.

Playtech's board has recommended a 2.1 billion pound offer from Australia's Aristocrat Leisure for its overall business to shareholders.

(Reporting by Muvija M and Sachin Ravikumar in Bengaluru; Editing by Shinjini Ganguli)