Toronto-listed lottery provider Pollard Banknote has entered into a definitive agreement to acquire Vienna-based lottery supplier Next Generation Lotteries (NGL) for €36m.
Pollard Banknote will pay an initial €32m to acquire NGL, with a further €4m becoming payable if the company achieves certain gross margin targets in 2021.
The purchase price will be funded from existing Pollard Banknote cash resources and availability under the company’s existing senior credit facilities of €27.6m, and the issuance of treasury shares [...]
