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Zeal moves forward with takeover offer for Lotto24

1st February 2019 7:29 am GMT

Frankfurt-listed lottery provider Zeal Network has begun the process for its all-share voluntary takeover of German online lottery brokerage Lotto24.

The company has published an offer document for its takeover bid following approval by the German Federal Financial Supervisory Authority, and will exchange one new Zeal share for 1.604 Lotto24 shares.

Zeal has already secured irrevocable commitments to accept the offer from major shareholders representing approximately 65 per cent of Lotto24 shares, including G√ľnther Group, Working Capital [...]

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