Cherry acquires majority of the outstanding shares of Game Lounge
Cherry AB (publ) – STO: CHER-B.ST – announces its decision to exercise its option to acquire up to 100 percent of the shares in the leading affiliate company Game Lounge Ltd. The purchase price for an additional 44 percent of the shares is based on a multiple of 4.5 times the 2017 profit of the affiliate operation and 6 times the 2017 profit of the white label operation. The acquisition is expected to be financed through a combination of cash and a new issue of shares in Cherry AB.In January 2015, Cherry AB’s wholly-owned subsidiary, Cherry Malta Ltd, acquired 51 percent of the shares in