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Entain Plc has announced that it has contractually completed its €370 million takeover of online gambling group Enlabs AB.
Issuing a market statement, Entain confirmed that it had secured 67 million Enlabs shares, corresponding to 96% of the Nordic Nasdaq First North firm’s total shareholding.
Prior to this announcement, 94% of Enlabs shareholders had approved of Entain’s revised SEK 53 per share offer, disclosed on 22 March – qualifying its takeover approach as unconditional for Enlabs shareholders.
As part of its buyout obligations, Entain had extended its offer acceptance period until April 1, in order to enable existing Enlabs shareholders to accept its deal terms.
Completing its outstanding duties, Entain maintains its revised deal timetable in which the FTSE100 betting group expects to declare the full settlement of its Enlabs takeover on April 13.
Updating stakeholders, Entain emphasised that remaining unsettled Enlabs shares held “no financial exposure,” allowing the company to proceed with the full settlement of its deal – for which Entain will not extend its acceptance period any further.