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BRIEF-Fortuna closes Romanian transactions
September 1, 2017 / 6:16 AM / 20 days ago

BRIEF-Fortuna closes Romanian transactions

Sept 1 (Reuters) - Fortuna Entertainment Group Nv

* announces closing of Romanian transaction that had been approved at Aug 1 EGM

* closed the acquisition of Bet Active Concept S.R.L., Bet Zone S.R.L., Public Slots S.R.L. and Slot Arena S.R.L. through two SPVs

* says to further reinforce and grow the multi-channel betting and gaming business through investment into future growth

* says Romanian operation will be integrated with Hattrick business in Romania but will keep a dual-brand strategy

* says total consideration to be paid for the acquisition will be EUR 47 million, out of which EUR 32 million was paid as initial base price on the closing date whilst the rest will be paid as earnout mechanism with maximum earn-out opportunity of EUR 15 million

* says In addition, approximately EUR 3 million in loans provided by majority shareholder Fortbet to the Romanian entities will be refinanced. The consideration will be funded via Company’s cash and bank loans Source text for Eikon: Further company coverage:

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