Entain gains 95.9% ownership of Enlabs

Entain has got the remaining shares from Enlabs’ stockholders.

In January this year, Entain and its subsidiary Bwin Holdings made a cash bid to the shareholders of Enlabs.

The offer was to sell all of Enlabs’ shares to Entain. The shareholders gave 94.2%, which is around 66 million shares.

Enlabs and its shareholders accepted a term in March. They declared the offer for the shares and votes unconditional.

An elongated acceptance period expired on April 1. The shareholders accepted the offer for the remaining shares. They gave an extra 1.7% which was around 2 million shares.

Entain now owns approximately 67 million Enlabs’ shares. It provides the operator a 95.9% ownership of the company. The overall worth of these shares is €370m (£319m).

Entain clarified that the company has gained no shares that give financial exposure to Enlabs’ shares outside the offer. Although it has gained all warrants to purchase issued shares.

The settlement of the shares allowed in the extended acceptance period will occur on April 13. Entain has decided not to extend this period any further.