Entain’s buyout offer for STS shares met with exceptionally positive response
Entain CEE, in which EMMA Capital Group will hold a 22.5% stake after the transaction is settled, has completed the process of a public share buy-back offer to shareholders of STS, Poland’s largest gaming company. The offered price of PLN 24.80 per share was accepted by the vast majority of STS shareholders. As a result of this successful transaction, Entain CEE’s stake in the company will reach 99.28%.
Entain CEE announced its acquisition of STS in June this year. Within the framework of the public share buy-back offer, the Juroszek family, which holds a 70% stake in the company, committed to sell its entire stake to Entain CEE. Among the minority shareholders, who hold the remaining 30% of the shares, the public offer also met with an exceptionally positive response.
“Achieving a stake above 99% is a great success, which, as we understand, is unprecedented in the history of the Warsaw Stock Exchange,” said Pavel Horák, Investment Director of EMMA Capital, commenting on the transaction. “I view it as confirmation of our fair approach to the minority shareholders.”
By crossing the 95% threshold, Entain CEE gains the legal ability to buy out the remaining minority shareholders and become the sole owner of STS.
EMMA Capital is a private investment holding founded in 2012 by Jiří Šmejc. In recent years, it has focused chiefly on markets in the European Union, but is also present in other markets in Europe and Asia. It usually plays an active role in companies where it acquires an equity stake, participating in their management, development and in any eventual restructuring. EMMA’s investment priority is retail and customer-oriented companies.
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