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IGT’s purchase of Entraction recieves regulatory approval

IGT, International Game Technology, an American game designer and manufacturer revealed that their proposal for the purchase of Entraction Holding AB has been accepted and received all the necessary regulations from the anti-trust authorities in Malta.

This purchase was announced earlier this month and now that it has received all the necessary regulations, IGT can now proceed to buy A and B shares in the Stockholm-based platform and software provider Entraction for $115 million, which would equate to $11.11 per share.

IGT’s proposal still has to be accepted by Entraction’s shareholders but if it’s successful then we could see its wholly-owned Swedish subsidiary Eagle Ice AB possess 90% of Entraction and settlement will likely begin on June 15.

IGT said that this decision “from the Maltese anti-trust authorities means IGT now has all necessary regulatory approvals needed to complete the offer.”

“IGT has, in addition, received approval to be the new owner to required licenses in order to conduct gaming operations from Malta.”

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