Cherry purchases additional shares in Almor Holding

Cherry has exercised an option to acquire an additional 7.5% stake in online casino and sportsbook company Almor Holding.

In July 2015 Cherry acquired a 71% majority stake in the Malta-based company for €4.6 million ($4.9 million), with the option to buy the remaining stake in the following four years and eight months.

Later that year, Cherry took on an additional 4% stake and the latest purchase will increase its total holding in Almor to 82.5%.

The purchase price for the 7.5% stake will either be paid in €1.2 million in cash, or via class B shares in Cherry AB to the value of approximately SEK11.7 million.

Shareholders will vote on the purchase at the Annual General Meeting on May 16.

Cherry also retains the right to purchase the remaining shares in Almor within three years.

Related article: Cherry acquires majority stake in Almor Holding