Enlabs AB (OM:NLAB) made an offer to acquire remaining 33.3% stake in Global Gaming 555 AB (OM:GLOBAL) for approximately SEK 160 million.
Completion of the Offer is only conditional upon all required approvals, permits, decisions and other actions by authorities or similar bodies, including approvals from competition authorities, if applicable, being obtained, in each individual case on conditions acceptable to Enlabs. According to Enlabs' assessment, the Offer must be approved by competition authorities in Estonia, which is one of Enlabs' main markets. A decision on such approval is expected to be announced no later than October 15, 2020. As of September 30, 2020, Global Gaming's independent bid committee unanimously recommended its shareholders to accept the transaction. As on October 8, 2020, Enlabs has received approval from the Estonian Competition Authority for the acquisition of Global Gaming 555 AB. As a result, the only condition for completion of the Offer is fulfilled and Enlabs therefore declares the Offer unconditional. The acceptance period for the Offer is expected to begin around October 5, 2020 and end around November 2, 2020. Payment of the consideration is expected to begin around November 6, 2020. Carnegie Investment Bank AB (publ) and Qap Legal Advisors AB acted as financial advisor and legal advisor to Enlabs AB (publ), respectively. KPMG Corporate Finance and Mangold Fondkommission AB acted as fairness opiion providers to Enlabs.