“Ainsworth Game has been advised by Novomatic that the final gaming regulatory approvals required in respect of the transaction have been received, thereby satisfying the last of the conditions,” said the Australian firm in a Thursday filing.
The document added: “In accordance with the share sale and purchase agreement, Mr Ainsworth and Novomatic have agreed that completion of the transaction will take place on January 5, 2018. Upon completion, Novomatic will own approximately 52% of Ainsworth Game Technology’s issued capital.”
It was back in February 2016, that Mr Ainsworth and Novomatic agreed the deal under which Mr Ainsworth was to sell 172.1 million ordinary shares to Novomatic, subject to regulatory and licence approvals. At the time, it was announced the offer from Novomatic was AUD2.75 (US$2.11) in cash per share, indicating a transaction valued at approximately AUD473.3 million (US$ 359m).
Source: GMB / GGR Asia
