Betsson AB (publ) (”Betsson”) has completed the previously announced acquisition of Europe-Bet through acquisition of the company Chempionebi 111 LLC (and associated companies) for an initial purchase price of USD 50 million. In addition to the initial purchase price, an additional purchase price of a maximum of USD 35 million may be paid until one year after completion, provided that betting regulations in Georgia remain unchanged. This means a total maximum purchase price of USD 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 EUR 35 million, as well as a new credit facility of SEK 700 million. These facilities are both revolving credit facilities which give an attractive financial flexibility.
Gernandt & Danielsson Advokatbyrå and Dechert Georgia LLC have acted as legal advisers to Betsson in connection with the transaction and PwC has acted as financial adviser. On the sell-side, Legal Partners Associated LLC has acted as legal advisers and EY has acted as financial adviser.
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