Frankfurt – Global law firm K&L Gates LLP is advising ZEAL Network SE on its voluntary public delisting tender offer to the shareholders of Lotto24 AG.
ZEAL Network SE, the leading German online provider of lottery products, is offering a cash payment of EUR 380.97 per Lotto24 share and has agreed with Lotto24 AG that Lotto24 AG will apply for the delisting of the Lotto24 shares from the regulated market of the Frankfurt Stock Exchange during the offer acceptance period.
K&L Gates had previously advised ZEAL Network SE on its cross-border public exchange offer for Lotto24 AG in 2019, through which ZEAL Network SE had obtained more than 93% of the shares and voting rights in Lotto24 AG.
The transaction is led by partner Boris Kläsener (corporate and capital markets, Frankfurt). Sean Jones (capital markets, Charlotte) is advising on U.S. capital markets law.