Betsson completes NordicBet acquisition

Betsson has acquired all shares in NordicBet by payment of a consideration of approximately 65 million euros consisting partly of cash and partly of a new issue of 217,974 shares of series B.

As previously announced, additional  purchase price, based on the development of the acquisition during 2012, may become payable. Betsson is entitled to choose to pay any additional purchase price in cash or in own shares. Such additional purchase price, if any, will amount to a maximum of 20 million euros, which implies that the total maximum purchase price (without adjustments for change in market price for delivered Betsson shares) is 85 million euros. If any additional purchase price becomes payable the final acquisition value will be determined by the market value of Betsson shares issued on the relevant day.

As a result of the acquisition consideration being partially paid by way of own shares, the board of directors has today resolved, in accordance with the authorization from the annual shareholders’ meeting on May 11th, 2012, to issue no more than 217,974 new B Shares against subscription in kind, whereby the share capital of Betsson will increase by us$ 62,559 from us$ 12,054,500 to us$ 12,117,100.

The acquisition has been partly financed through loan financing in the amount of approximately 55 million euros. The facility will be repaid at an appropriate rate which considers the company’s dividend policy.