Playtech has announced that Consob, the supervisory authority for the Italian financial market, has given the green light to buy up the remainder of Snaitech’s shares.
Playtech already held 81 per cent of shares in the Italian betting and gaming firm after agreeing a takeover deal worth a total of €846m.
The acceptance period for the mandatory takeover offer starts on Tuesday, June 26, ending on July 23.
The consideration of €2.19 per share will be paid to tendering shareholders on July 30. If certain conditions are met, the acceptance period will re-open for five more days beginning on July 31.
Mor Weizer, chief executive officer of Playtech, and Andrew Smith, chief financial officer, have been appointed to Snaitech's board.
