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Zeal rejects “significantly inadequate” offer by Lottoland for German assets

14th January 2019 9:38 am GMT

Frankfurt-listed lottery provider Zeal Network has rejected Lottoland’s offer for its core German assets, describing the non-binding offer as “significantly inadequate”.

Zeal said that Lottoland’s indicative offer of between €60m to €76m neglected the value of the company's Tipp24 business in Germany.

The company said that a sale would strip Zeal of its most valuable asset and the basis for future brokerage growth in Germany, while leaving the company and its shareholders with considerable downside risks.

This would include the [...]

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