Intralot Announce Sale of Intralot do Brasil
INTRALOT announces that it has reached a binding agreement with “SAGA CONSULTORIA E REPRESENTAÇÕES COMERCIAIS E EMPRESARIAIS” (SAGA) in Brazil to sell its entire stake in “Intralot do Brasil Comércio de Equipamentos e Programas de Computador LTDA” (Intralot do Brasil), representing 80% of the company’s voting capital.
SAGA is the only other shareholder of Intralot do Brasil holding 20% of the company. INTRALOT will continue to provide its gaming technology to Intralot do Brasil following closing of the transaction.
The total cash consideration for the stake sale amounts to EUR 700 thousand (seven hundred thousand EUR). Intralot do Brasil contributed 0.5% of Intralot Group EBITDA in 2020. Closing of this transaction is subject to the completion of certain condition precedents standard for this kind of transactions. The Company will follow-up with further announcements upon definite finalization of the transaction, as required by regulation.