Mr Green & Co acquires Garbo and Social Thrills
Via its subsidiary Green Gaming Group, AktieTorget-listed Mr Green & Co is exercising its option to acquire all shares in DSRPTV, which owns Garbo.com. Furthermore, all shares in Social Holdings Ltd – which recently launched the online casino game Spin Tower Casino on Facebook – is being acquired. Conclusive decision about these transactions will be made on the Annual General Meeting on the 24th of April.
“These are two companies focused on two strategically highly attractive target audiences. Garbo.com is aimed at women who mainly play on mobile devices – a niche the company is essentially alone in serving. Gaming on Facebook is growing rapidly and is an area where Social Thrills commands an excellent position,” says Mikael Pawlo, CEO of Mr Green & Co and continues:
“There is considerable synergy potential between the two acquired companies and Mr Green, in terms of both marketing and i-gaming development.
The purchase consideration for DSRPTV amounts to EUR 500,000. For minority shareholders – who own 21.1% of the shares – an additional purchase consideration may be payable. However, Mikael Pawlo, CEO of Mr Green & Co and owner of the remaining 78.9% of the shares, through his company Derzhava Holding Ltd, is not entitled to an additional purchase consideration.
Green Gaming Group plc was already the owner of 41.85% of the shares in Social Holdings. For the remaining 58.15% of the shares, the purchase consideration amounts to a maximum of SEK 16.63 M, including an additional purchase consideration. The initial payment will total SEK 2.22 M.
For further information, please contact:
Mikael Pawlo, CEO Mr Green & Co, Tel: +46 70 418 65 02