The well-known lottery brokerage operator, Zeal Network, has exposed the facts of their takeover offer for Lotto24.
The shareholders of Lotto24 are offered 1 Zeal share in return for 1.604 Lotto 24 shares. They can decide on the offer before 10th April 2019.
This can be considered as a done deal as Zeal has claimed to own about 65%of Lotto24 shares already. This offer has been pre-approved by the German Federal Financial Supervisory Authority even before the details were revealed.
There is a reason for Zeal to be excited as this deal will prove to be an excellent value to the shareholders. It is wise for the shareholders of Lotto24 to accept this offer as this will bring them back into the fold. This would indeed be an ‘exciting journey’ as mentioned by the CEO of Zeal, Dr. Helmut Becker.
According to the CEO, Lotto24 has seen great success (34%) in the online lottery market of Germany in 2018. The combined efforts will help build on the position. The technology competence will help to further expand the joint business.
When the deal gets finalized, Zeal would grow their billing to about €500 million which is $574.4 million. Their customer count will show an increase to 5 million.
Zeal dives into the offer as 60% of the shareholders vote for the deal. However there is a vocal minority working against the deal.