Enlabs gets competition green light for Global Gaming takeover
Estonian Competition Authority approves multi-million krona offer as operator targets November completion date
Enlabs has received approval for its SEK150m (£13.2m) takeover of Malta-headquartered operator Global Gaming from the Estonian Competition Authority.
The approval was the only potential impediment to the takeover bid, which was first revealed in August.
Under business law, the firm was required to make a mandatory offer for Global Gaming after increasing its holding in the operator to more than 50%.
Enlabs now plans to commence payment of the SEK150m acquisition cost on 6 November. The offer values Global Gaming at a price of SEK11 per share.
Enlabs claimed there would be scalability and cost savings in combining the two businesses to the tune of €5m annually, across marketing, IT and compliance.
The operator suggested the potential launch of a number of Global Gaming brands in Enlabs’ main markets of Estonia, Latvia and Lithuania, together with new emerging markets such as Ukraine.
Former Global Gaming CEO Tobias Fagerlund left the firm in August, on the same day as details of the mandatory offer emerged.