Cherry has called on its option to acquire a further 7.5 per cent of the shares in Germany-facing igaming company Almor Holding, taking its overall holding to 90 per cent.
The move follows continued favourable development of Almor’s group of brands. The purchase price for Almor Holding Limitedis around €4.4m, to be paid through a combination of cash and newly issued shares in Cherry AB.
Cherry’s current holding in Almor amounts to 82.5 per cent and will amount to 90 per cent once the transaction has been completed. Cherry holds the right to utilise its option to buy the remaining shares in Almor in the first six months of 2019. This option is based on a multiple of five times EBIT, calculated as an average of the years 2017 and 2018.
