Ladbroke plans to change its name as Stakis deal is sealed

LADBROKE expects to know in a few weeks exactly how many job losses will result from its takeover of Stakis.

The hotel and gaming giant announced on Friday that its proposed takeover, which put a price tag on the group of almost £1.4b, had been finalised.

A group spokesman said: "Now we will move ahead with the integration process. There are a number of jobs that may or may not go and it will be a few weeks before we know."

Ladbroke intends to ask shareholders to approve a resolution to change the name of the parent group listed on the Stock Exchange from Ladbroke Group to Hilton Group at its annual general meeting on 14 May.

Last week Ladbroke shareholders passed a resolution to approve the group's acquisition of the Scottish-based rival (Caterer, 25 March, page 9) and Stakis shareholders followed within 48 hours.

l See "Joining forces", page 24.