Cherry AB will call on the option to acquire an additional 7.5 percent share holding in Almor Holding Limited (Almor) bringing its total stake to 90 percent.
Almor operates online casino and sportsbook in primarily German-speaking countries. Brands include Sunmaker, Sunny Player Casino and Kingplayer.
The purchase price for Almor Holding Limited will, according to the agreement, amount to approximately Euro 4.4 million and be paid through a combination of equal portions cash and newly issued shares in Cherry AB (publ).
Cherry holds the right to utilise its option to buy the remaining shares in Almor in the first six months of 2019. The option to acquire additional shares is based on a multiple of five times EBIT, calculated as an average of the years 2017 and 2018.