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BETSSON COMPLETES EUROBET ACQUISITION
23rd July, 2015 at 10:24:12
Potentially US$ 85 million deal concluded.
Betsson AB has announced that it has completed the acquisition of Europe-Bet through the acquisition of the Georgian company Chempionebi 111 LLC (and associated firms) for an initial purchase price of US$50 million.
In addition to the initial purchase price, an additional purchase price of a maximum of US$35 million may be paid until one year after completion, provided that betting regulations in Georgia remain unchanged (see previous reports). This means a total maximum purchase price of US$85 million.
Betsson expects that the acquisition will contribute positively to Betsson's financial result from the 22th of July 2015, and onwards.
The acquisition is financed through a renewal of a credit facility amounting to Euro 35 million, as well as a new credit facility of SEK 700 million.
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