Announced
Completed
Financials
Tags
Acquisition
Public
online lotteries
Germany
Casinos and Gambling
Single Bidder
Completed
Friendly
Majority
Synopsis
ZEAL Network, which engages in the online lottery business in Germany and internationally, offered to acquire Lotto24, an online provider of state licensed lotteries. Subject to the terms of the agreement, ZEAL intends to offer one new ZEAL share with a nominal value of €1.00 (1.14$) as consideration in exchange for approx. 1.6 tendered shares of Lotto24. ZEAL made an offer to Lotto24 to negotiate a business combination agreement. The Executive Board of Lotto24 generally regards ZEAL as a strategically sensible partner for the further development of Lotto24. It has therefore resolved to commence negotiations concerning such an agreement.
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