Betsson confirms acquisition of NetPlay TV

Betsson has completed its previously announced acquisition of NetPlay TV.

Last month, the NetPlay TV board of directors accepted a bid of £26.4 million (€30.8 million/$32.9 million) from Betsson, and the two companies this week secured court approval for the deal.

NetPlay TV will now operate as a wholly owned subsidiary of Betsson, with all NetPlay TV shareholders to receive nine pence in cash for each ordinary share they hold.

In a statement, NetPlay TV said that the latest date for despatch of cheques and settlement of the cash consideration through CREST is April 14.

In accordance with the acquisition deal, trading in NetPlay TV ordinary shares on AIM was suspended from 7:30am this morning.

NetPlay TV said in a statement that the admission to trading of ordinary shares is expected to be cancelled at its own request with effect from 7am on Monday.

The companies will make a further announcement when the admission to listing and to trading of the ordinary shares on AIM have each been cancelled.

Related article: Betsson wins court approval for NetPlay acquisition