ZEAL completes acquisition of Lotto24
- 93% of Lotto24 shareholders accept takeover offer
- Number of shares increases to 22,396,070
(London, 14 May 2019) ZEAL Network SE ("ZEAL") has successfully completed the acquisition of Lotto24 AG ("Lotto24"), 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."
Later this year, ZEAL intends to reacquire control of its myLotto24 and Tipp24 subsidiaries and transform its German secondary lottery business into a locally-licensed digital lottery broker, building on Lotto24's strong position in the German lottery market. In addition, ZEAL plans to relocate its headquarters back to Germany.
- ENDS -
Investor Relations Manager, ZEAL Network
T: +44 (0)20 3739 7123
Head of Corporate Communications, ZEAL Network
T: +44 (0)7976 872 861
About ZEAL Network SE:
- ZEAL is an international digital lottery group.
- The company was founded in 1999. Renamed as ZEAL Network SE in 2014.
- The company is headquartered in London.
- Its shares are listed on the Prime Standard of the Frankfurt Stock Exchange.
- The Group has more than 3.9 million customers globally. Since its incorporation, ZEAL Group has generated stakes of more than EUR3 billion and paid out more than EUR1.5 billion in winnings.
- ZEAL Group includes all subsidiaries of ZEAL Network SE and the affiliated companies of the independent shareholding myLotto24 Ltd.
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