Ladbrokes plc, UK based company with diversified interests in betting ventures, acquired Gala Coral Group, local company engaged in betting and casinos operation, from Cerberus Partners and Apollo Management LP, US based private equity companies, Park Square Capital LLP, UK based fund management company, York Capital Management LLC, US based hedge fund manager. Upon completion of the merger, Ladbrokes will control 51.75% of the new enlarged company and Gala Coral will hold the remaining 48.25%. The new enlarged company will be named Ladbrokes Coral plc. The total deal value Stg2.02bn ($3.15bn) based on issuing 866,518,803 Ladbrokes consideration shares at the completition day price of Stg1.336 and including net debt of Stg865m.