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Cherry completes €80m deal for initial stake in ComeOn

21st July 2016 9:18 am GMT

Sweden’s Cherry has completed the 49 per cent acquisition of ComeOn Malta, with the deal expected to have an immediate positive impact on its profitability.

Cherry first announced a deal to acquire the stake in early May. This has now been completed after it issued 2.9m shares in the company to ComeOn’s vendors and paid €39.7m in cash for a total consideration of €80m.

The company also has an option to acquire the remaining 51 per cent stake [...]

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