Austrian gaming giant Novomatic will acquire all outstanding shares in Australian slot machine supplier Ainsworth Game Technology that it doesn’t already own by way of a Scheme of Arrangement.
Novomatic currently holds a 52.9% stake in the ASX-listed company.
According to information made public on Monday, Novomatic will acquire the outstanding shares for a “best and final cash consideration of AU$1.00 per share”, which places the value of the deal at around AU$158.6 million (US$102 million). The consideration represents a 35% premium to the trading price of Ainsworth’s shares at close last Friday 24 April.
The transaction is expected to close in the second half of 2025 pending Ainsworth shareholder approval. Foreign Investment Review Board approval has already been received, while Ainsworth’s Independent Board Committee has unanimously recommended that Ainsworth shareholders vote in favor of the transaction, the company explained.
“The acquisition of Ainsworth is consistent with our international growth strategy and the expansion of our presence across the Asia-Pacific and the US region,” said Stefan Krenn, Member of the Executive Board of Novomatic AG Group. “As a long-term shareholder we are familiar with the business and believe that integrating Ainsworth into our operations is in the best interest of this strategy. We look forward to welcoming the highly qualified and experienced Ainsworth employees into the Novomatic family to become part of our international growth and success.”
In an ASX filing, Ainsworth chair Danny Gladstone said, “The proposal put forward by Novomatic, who is already the majority shareholder of Ainsworth, represents a significant premium to long term trading value and is compelling for AGI minority shareholders.
“The Independent Board Committee have carefully evaluated the proposed Scheme Consideration against the company’s medium-and long-term growth prospects and alternative opportunities, and has unanimously formed the view that the proposal represents attractive and certain value for AGI minority shareholders.”
Novomatic previously acquired its existing stake from Ainsworth founder Len Ainsworth in early 2018 in a move that was designed at the time to increase the Austrian company’s presence in the United States.
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