Betsson has completed the acquisition of Betsafe following receipt of necessary regulatory approvals.
Through the acquisition of Betsafe’s holding company Artic Invest, Betsson has acquired all shares and warrants in the company for an initial consideration of approximately 32.5m euro, consisting partly of cash and partly of the transfer of 234,555 Betsson B shares and a new issue of 684,269 B shares.
The deal is also subject to an additional purchase price based on the development of the acquisition and its integration during 2011. Betsson is entitled to choose to pay any additional purchase price in cash or in own shares, amounting to a maximum of 27.5m euro - bringing the total maximum purchase price to 60m euro.
The estimated value of the assets contributed in kind corresponds to a subscription price of approximately SEK127 per common share, which corresponds to the volume-weighted average share price for Betsson’s shares during the 30 trading days prior to the announcement of the acquisition on May 13.
Trading in the new shares is expected to commence on NASDAQ OMX Stockholm on or about June 22.
