Cherry Purchases 49% Stake in ComeOn

Betting firm Chery has announced that they have completed their purchase of 49% of betting site ComeOn, paying €39.7 million in cash and 2,901,475 in shares for a total purchase price of €80 million.

The deal is expected to have an immediate impact on Cherry's bottom line, and if things go well enough, the company will have the ability to purchase the remaining 51% of the site, with a decision having to be made between October 1st and December 31st of this year.

Commenting on the deal Cherry CEO Fredrik Burvall said, "Now we have completed the acquisition of the first 49 percent of ComeOn, we will, together with ComeOn, initiate the work of maximising our common values and customer offerings with the goal to strengthen our common operation. It is important that we and ComeOn clearly schedule the process so that when the final integration takes place it will be both swift and efficient."

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24 July 2016 - 8:26pm

So obviously the question is not if but when Chery will buy the rest of of betting site ComeOn.
This shows the huge ambition in the development of the company if they're ready to spend such huge amount to acquire whole this business.