Entain moves to acquire remaining Enlabs shares

Enlabs currently holds  95.9 per cent of Entain.
Enlabs currently holds 95.9 per cent of Entain.

Entain has initiated a compulsory acquisition proceeding for the remaining Enlabs shares it has not yet purchased.

Sweden.- Entain is to cement its takeover of the Swedish igaming company Enlabs with a compulsory acquisition to purchase all remaining shares.

It comes after Entain completed the acquisition of the operator last week, with 94.2 per cent of Enlabs shareholder votes approving its offer of SEK53 per share for the Baltic-facing operator.

Entain’s increased offer for Enlabs valued the company at SEK3.7bn (€363.9m).

See also: Entain revenue remains flat in 2020

A further 1.7 per cent of shareholders accepted the deal before the extended acceptance period expired on April 1, taking Entain’s stake to 95.9 per cent.

Those final agreements will be settled by around April 13, and Entain has confirmed it won’t extend the acceptance period any further.

Entain has acquired all warrants to purchase issued shares but no shares or financial instruments that give financial exposure to Enlabs shares outside the offer.

See also: Entain appoints former Royal Marines officer as chair of trust

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Enlabs ENTAIN online gambling