Cherry has called on the option to acquire an additional 7.5 percent of the shares in the Maltese company Almor Holding Ltd (Almor), a leading online casino and sportsbook business specialising in German-speaking and some additional European markets. Cherry acquired 75 percent of the shares in Almor in 2015 and after this acquisition Cherry owns 82.5% of the company. Almor has continued to perform above expectations and over time Cherry holds options to acquire the remaining shares in the company.
Cherry holds the right to utilise its option to buy the remaining shares in Almor within three years. The remaining shares will be acquired based on a multiple of five times EBIT.
The information in this press release is information which Cherry AB (publ) is required to disclose under EU Market Abuse Regulation (EU). The information was provided by the below contact persons for publication on April 12, 2017.
For further information, please contact:
Anders Holmgren, CEO Cherry AB (publ), Mobile +46 708-607 534, email; anders.holmgren@cherry.se
Carolina Haglund Strömlid, Head of Investor Relations & Communication Cherry AB (publ), telephone +46 708 807 173, Email: carolina.stromlid@cherry.se
Cherry in brief
Cherry is a Swedish innovating and fast growing gaming company established in 1963. The business strategy is to create shareholder value by owning and developing fast-growing and profitable businesses within the gaming and casino industry. Cherry operates within five diversified business areas, Online Gaming through Cherry iGaming, Performance-based Marketing through Game Lounge, Gaming Technology through XCaliber. Game Development through Yggdrasil Gaming and Restaurant Casino through Cherry Spelglädje. The objective is to grow organic in combination with strategic acquisitions of fast-growing companies. Cherry employs around 1 100 people and has more than 5,600 shareholders. The Company’s B-shares are listed on AktieTorget.