NeoGames and Aristocrat set to complete business combination next week

Sydney-listed Aristocrat Leisure is on course to complete its business combination with NeoGames next week.

The two companies confirmed Thursday that all necessary gaming regulatory approvals required for completion have been received or waived. In addition, all antitrust and foreign investment regulatory clearances have been received.

This marks a further step towards completion of the acquisition, ahead of a final NeoGames shareholder vote, which is scheduled to be held on or about 25 April.

In accordance with the business combination, NeoGames expects to transfer (by way of a continuation) its statutory seat, registered office and seat of central administration from Luxembourg to the Cayman Islands, and change its legal form as a Luxembourg company (société anonyme) to a Cayman Islands exempted company.

In connection with the continuation, the company has requested that The Nasdaq Global Select Market suspend all trading in NeoGames’ shares as of the close of business on 23 April.

The merger is expected to close on or about 25 April and become effective at the time of the registration of the Statutory Plan of Merger by the Cayman Registrar, which is expected by the following business day.

Following closing, NeoGames will request that Nasdaq file with the SEC a notification of removal to delist its shares from Nasdaq.

Shares in NeoGames SA (NASDAQ:NGMS) closed at $29.41 per share in New York Thursday, while shares in Aristocrat Leisure Ltd (ASX:ALL) closed 0.72 per cent higher at AUD$40.32 in Sydney Friday.