VGW shareholders have approved a deal for the founder Laurence Escalante for full ownership of Sweepstakes Casino.
ESCALANTE was making an actual offer for the remaining 30 % of the remaining VGW, with the acquisition of $ 632 million ($ 409 million) proposed through his own car, Ocean Bidco Limited.
At $ 3.32 per share, Display Kroll Australia was said to be “fair and reasonable” by Kroll Australia, which is estimated at a price of $ 3.70 per share.
In the end, the proposal was accepted after 85 % of VGW shareholders voted to agree to sell minority shares.
It represents a greater value for shareholders compared to the previous attempt by Ocean Bidco at $ 2.26 to $ 2.58 per share, which was rejected by the Board of Directors to oversee the sale.
There will be other returns as part of the treatment, as Ocean Bidco will borrow up to $ 586 million of VGW to finance the transaction for 30 % of the gambling operator.
An agreement subject to the approval of the Federal Court
Chairman of the Independent VGW Board of Directors Mike Simons said upon completion of the vote:
“I would like to thank all VGW shareholders for their participation in the shareholders’ meetings today and their support for VGW. “
Despite the full agreement, the treatment is subject to further approval from the Federal Court in Australia, with a hearing on Tuesday 5 August.
If approved, the rest will be formally with more legal correspondence to follow up.
VGW is said to have recorded $ 4 billion in revenue for 12 months until June 30, 2024, as the results achieved an increase of 27 % on an annual basis.
The company recently confirmed it Chomba Casino The Luckyland Casino platforms will not be available to players in New Jersey, due to the ban on Lotion In the state.
Photo credit: vgw
Pamphlet VGW shareholders agree to the ESCALANTE seizure offer First appear on reading.
[og_img]
Source link