Novomatic Increases Holding In Casinos Austria

And interested in more of the same if offered "at an acceptable price"

Novomatic AG is looking to increase its equity in the partially-Austrian state-owned Casinos Austria AG with two binding offers for 16.8 percent of MTBPrivatstiftung-owned Casinos Austria shares and 29.6 percent of shares in MEDIAL Beteilingungs GmbH which is owned by Leipnik-Lundenburger Invest (LLI) Beteiligungs AG. The acquisition of the LLI shares would equate to an indirect equity stake in Casinos Austria of 11.34 percent.
"The offers were accepted both by the MTB Privatstiftung as well as by the LLI. The conclusion of both transactions remains subject to various permissions governed by public law as well as by company law and to formal approval requirements," said Novomatic in a statement, however, the company declined to reveal the consideration.
"By means of these transactions we will be able to contribute as a solid Austrian partner with international expertise and become a part of a sustained shareholding structure of Casinos Austria," added Harald Neumann, chief executive of Novomatic.
Novomatic said it will look to increase its stake further should more Casinos Austria shares be on offer "at an acceptable price".
The company acquired a 7.94 percent stake in the part-Austrian state-owned Österreichischen Lotterien (ÖLG) from Austrian Investment firm B & C Industrie Holding earlier this year (see previous InfoPowa reports).

Online Casino News Courtesy of Infopowa