Cherry acquires further 7.5 percent in Almor Holding Ltd.

News on 12 Apr 2017

Cherry has called on the option to acquire an additional 7,5 percent of the shares in Maltese online casino and sportsbook company Almor Holding Ltd (Almor) following its purchase of 75 percent of Almor shares in 2015.

Almor, whose focus is on the German-speaking and other additional European markets, has continued to perform above expectations, Cherry said in a press statement.

The purchase price for the additional 7.5 percent of the shares in Almor Holding Limited will, according to the agreement, be paid by either a cash amount of Euro 1 219 889,50 or through class B shares in Cherry AB to the value of approximately SEK 11 717 891,50.

Cherry holds the right to utilise its option to buy the remaining shares in Almor within three years. The remaining shares will be acquired based on a multiple of five times EBIT.

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