Brief: Media And Games Invest Increases Stake In Gamigo

Mgi Media and Games Invest Se

17/02/2020 10:38

Feb 17 (Reuters) - MEDIA AND GAMES INVEST PLC  M8G.DE :
    * MEDIA AND GAMES INVEST PLC; INCREASES STAKE IN GAMIGO AG
FROM
53% TO 98%
    * PURCHASE PRICE VALUATION IS 50% BELOW PEERGROUP
    * FORMER GAMIGO SHAREHOLDERS WILL RECEIVE SHARES WITH A 25
MONTHS
LOCK-UP PERIOD
    * TRANSACTION IS EXPECTED TO BE COMPLETED WITHIN COMING DAYS
    * A FURTHER INCREASE TO 100% IS PLANNED SHORT TERM
    * IT IS PLANNED TO ALSO ACQUIRE REMAINING GAMIGO SHARES
THEREAFTER
    * PURCHASE PRICE OF EUR 16.5 MILLION IN CASH AND UP TO 18.2
MILLION MGI SHARES
    * ACQUISITION OF ABOUT 2% OF GAMIGO SHARES IS STILL PENDING,
BUT
NEGOTIATIONS FOR PURCHASE OF THESE REMAINING SHARES ARE ALREADY
UNDERWAY
    * SHOULD NEGOTIATIONS FAIL, A SQUEEZE-OUT OF THESE
SHAREHOLDERS
WILL BE ATTEMPTED

Source text for Eikon:  ID:nEQ82bH5ka 
Further company coverage:  M8G.DE 

 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com; +48 58 778 51 10;))