The iGaming company struck a deal with an unnamed South American operator.
Sweden.- ahaWorld, major Swedish iGaming operator, has acquired the majority of a South American gaming company to expand its business. Members of ahaWorld have signed a Letter of Intent (LoI) to confirm the transaction. The name of the Latin-American company has not been revealed.
ahaWorld would complete the first stage of the acquisition process transferring 51 percent of the entity stake to its brand. The Swedish company would have the option to finish the transaction with new shares or in cash, depending on ahaWorld decision, in the course of the next 24 months in two stages.
The first phase of the process would be financed with new share issue in ahaWorld of 4.3 million shares; this transaction would lead to the dilution of 25.5 percent of the South American company. Every stage of the process would set its own valuation conditions at time of option being exercised. Furthermore, they would correspond to multiple of 6 times EBIT in Latin-American operator’s business.