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Zeal Network makes takeover offer for Lotto24

19th November 2018 8:58 am GMT

Frankfurt-listed lottery provider Zeal Network has made a voluntary public takeover offer to acquire German lottery broker Lotto24.

Zeal said that the deal was consistent with its renewed strategy to de-risk its business model and focus on locally-licensed businesses.

The company intends to transform its German secondary lottery business into a locally licensed online brokerage model after reacquiring control of its myLotto24 and Tipp24 subsidiaries and, in due course, to relocate Zeal to Germany.

On completion, the transaction [...]

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