Shares in gaming operator Cherry are to be delisted from Nasdaq Stockholm as acquirer European Entertainment Intressenter Bidco (EE Intressenter) prepares to take full ownership of the business.
EE Intressenter, which is comprised of private equity firm Bridgepoint Advisers and a number of Cherry shareholders, first announced its SEK87.00 per share bid for the company in December and now controls over 90 per cent of the business.
It has therefore initiated a call for redemption of the remaining shares and outstanding warrants in the company, with Cherry confirming Monday that it has applied for its series B shares to be delisted from Nasdaq Stockholm.
The final date of trading in Cherry shares will be announced upon confirmation of the delisting application by the exchange.
Shares in Cherry AB (STO:CHER-B) were unchanged in Stockholm Monday morning at SEK87.00 per share.