Home > Finance > NetEnt to delist shares on 16 December following Evolution acquisition

NetEnt to delist shares on 16 December following Evolution acquisition

| By Robert Fletcher
NetEnt has announced that it will delist its B-shares from the Nasdaq Stockholm exchange on 16 December, following its acquisition by liver dealer specialist Evolution.
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In accordance with a decision by Nasdaq Stockholm, the last day of trading on the exchange will be 16 December.

This comes after Evolution yesterday (2 December) began a process to integrate NetEnt after completing its SEK19.60bn (£1.72bn/€1.91bn/$2.31bn) acquisition of the business.

The “total reorganisation” of NetEnt will see Evolution’s management assume operational responsibility for the slots giant. NetEnt chief executive Therese Hillman will support the integration before leaving the business in Q1 of 2021.

NetEnt’s live casino division will also be shuttered and efforts are to be taken to streamline the slot development business – in line with synergy goals set out when the offer was made.

The acquisition offer was declared unconditional on 23 November, having been backed by 93.9% of the total number of shares and 97.3% of the total number of votes in NetEnt.

The acceptance period for shareholders was then extended until 30 November, with investors holding 7.1m series A shares in the business, and 7.1m series B shares, now also backing the offer.

In connection with its offer, which allowed NetEnt stockholders to sell their holdings for 0.1306 Evolution shares, it will now issue 933,504 new shares.

Evolution has also initiated a compulsory buy-out procedure to acquire all outstanding shares.

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