The Scandinavian gaming firm, Cherry AB, has effectively raised €50 million through a bond offering to fund the purchase of a controlling interest in internet casino operator ComeOn Malta Ltd. The bonds, which reach maturity in July 2020, garnered substantial attention from more than 70 institutional investors throughout the Nordic area.
Cherry AB intends to utilize the funds to initially procure 49% of ComeOn Malta Ltd, with the possibility of acquiring the remaining 51% at a future time. The determination concerning the acquisition of the outstanding shares must be reached by December 31, 2016.
Fredrik Burvall, Chief Executive Officer of Cherry AB, conveyed his contentment with the positive outcome of the bond issuance, underscoring the investor faith in Cherry, the ComeOn purchase, and the company’s comprehensive business strategy. He stressed that this prosperous entry into the corporate bond market furnishes a solid financial basis for Cherry’s strategic growth within the online gaming industry.
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