Canada’s Intertain Group is set to complete its third high-profile deal in the past year with the proposed acquisition of Malta-licensed operator Vera&John for an initial €81m.

Intertain has entered into a non-binding letter of intent to acquire all assets of Dumarca Holdings Limited, the parent company of Vera&John.

It will make an initial payment of €44.5m in cash and €36.5m in common shares (approximately 5m), at a price of $10.29 per share.

Intertain chief executive John FitzGerald said that Vera&John would provide meaningful operating cash flow to his business, as well as giving the operator access to the Nordic markets.

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