The acquisition of Entraction Holding AB by International Game Technology moved ahead this week following the approval of the Maltese anti-trust authorities for the cash offer to shareholders to acquire all A shares and B shares in the Swedish company.
IGT has in addition received approval to be the new owner of required licenses in order to conduct gaming operations from Malta.
The decision from the Maltese anti-trust authorities means IGT now has all necessary regulatory approvals needed to complete the acquisition offer.
Settlement is expected to commence on June 15, 2011. IGT is to use its Swedish subsidiary Eagle Ice to complete the deal and operate as parent to Entraction once the acquisition is complete.
Source: InfoPowa News