Caledonia Investments to buy Gala Coral bingo chain - Sky News

Oct (HKSE: 3366-OL.HK - news) 25 (Reuters) - Britain's Caledonia Investments Plc is set to buy a chain of bingo halls from gaming group Gala Coral for 240 million pounds ($367.46 million), Sky News reported on Sunday.

The deal, which would include more than 130 Gala bingo clubs and a 30 percent market share, is expected to be announced on Monday, the multimedia news website said, citing sources. (http://bit.ly/1H3kT0q)

Gala Coral's rival, Mecca Bingo, owned by Rank Group Plc , was not interested in buying Gala's estate, Sky News said.

Gala Coral sealed an all-share merger deal with bookmaker Ladbrokes Plc (LSE: LAD.L - news) in July, creating a 2.3 billion pound betting group that will seek to build on its dominance of Britain's high streets, or main streets, to expand its online business.

This move would come on the heels of a 900-million-pound merger between online company 888 Holdings Plc and rival Bwin.party Digital Entertainment Plc.

Caledonia Investments and Gala Coral could not be reached immediately for comments outside regular business hours. ($1 = 0.6531 pounds) (Reporting by Rishika Sadam in Bengaluru; Editing by Jeffrey Benkoe)