INTRALOT Announces Sale of its Stake in INTRALOT do Brasil

 

INTRALOT has announced that it has reached a binding agreement with “SAGA CONSULTORIA E REPRESENTAÇÕES COMERCIAIS E EMPRESARIAIS” (SAGA) in Brazil to sell its entire stake in “Intralot do Brasil Comércio de Equipamentos e Programas de Computador LTDA” (Intralot do Brasil), representing 80% of the company’s voting capital.

SAGA is the only other shareholder of Intralot do Brasil holding 20% of the company. INTRALOT will continue to provide its gaming technology to Intralot do Brasil following closing of the transaction. The total cash consideration for the stake sale amounts to EUR 700 thousand (seven hundred thousand EUR). Intralot do Brasil contributed 0.5% of Intralot Group EBITDA in 2020.

Closing of the transaction is subject to the completion of certain condition precedents standard for this kind of transactions. The Company will follow-up with further announcements upon definite finalization of the transaction, as required by regulation.

Previous articleA Review of Your Rights When Choosing to Gamble Online
Next articleMissouri Legislature Moves to Protect Identities of Lottery Winners
Niji Narayan has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. He reports gaming industry headlines from all around the globe.

LEAVE A REPLY

Please enter your comment!
Please enter your name here