Playtech received an approval of purchasing a Snaitech
On June 22, Playtech received the approval of the Italian financial regulator Consob for an offer to purchase the remaining shares of Snaitech.
Earlier this month, Playtech completed a deal to acquire 70.6% of the stock share capital of Snaitech, as well as an additional 10.3% through the purchase on the market.
The original purchase transaction of €846 million ($984.3 million) was agreed in March and demanded from Playtech also a mandatory acquisition offer for all remaining shares of Snaitech.
The period for accepting applications for mandatory acquisitions will begin on 26 of June and finish on 23 of July, and shareholders will be paid at € 2.19 per share on July 30.
If certain conditions are met, the acceptance period will be renewed for another five trading days from July 31 to August 6. Representatives of Playtech said that if this happens, the payment of shares filed during this period will be held on August 13.
Under the acquisition agreement, Playtech CEO - Mor Weiser and Chief Financial Officer Andrew Smith were appointed as Managing Directors in Snaitech.
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