Entain CEE [Central and Eastern Europe] is set to close the acquisition of STS on 24 August after its offer was accepted by investors holding 99.3% of the operator’s share capital.
Entain CEE’s tender offer, announced in June, sees the joint venture pay PLN24.80 per STS share for an equity value of £750m, and an enterprise value of approximately £690m.
With STS chief executive Mateusz Juroszek and his father Zbigiew signing a binding agreement to accept the offer, there was already majority support for the deal. The Juroszeks hold around 70% of the operator’s share capital.
Now, Entain says that STS shareholders holding 155,591,656 in STS shares have agreed to the deal, accounting for 99.3% of the total issued share capital.
