ZEAL Network completes acquisition of Lotto24
ZEAL has successfully completed the acquisition of Lotto24 AG Germany’s leading online provider of state-run lotteries, by way of an all-share public takeover.
The transaction was supported from the outset by major shareholders holding approximately 65% of Lotto24 shares and following the approval by the extraordinary general meeting of ZEAL on 18 January 2019, the offer was launched on 31 January 2019. After the satisfaction of all completion conditions, as announced on 11 April 2019, the offer was accepted for 93% of the Lotto24 shares by the end of the additional offer period on 29 April 2019, demonstrating an overwhelming support for the transaction.
The total number of shares issued by ZEAL Network SE now amounts to 22,396,070 (previously: 8,385,088). With a stake of approximately 32% of the total enlarged share capital, the Günther Group remains the largest shareholder of ZEAL.
Dr Helmut Becker, CEO, ZEAL, said:”We are pleased that we were able to convince both Lotto24 and ZEAL shareholders of the strategic value of this merger and would like to thank our employees in particular for their great commitment and untiring efforts over the past months. By reuniting with Lotto24, we have created a strong, sustainable platform from which to accelerate online growth in the German lottery market and beyond. We will now work tirelessly for our future success, together.”