Lottoland Limited cancelled the acquisition of Tipp24 Services Limited from ZEAL Network SE.

Lottoland Limited made a non-binding, conditional and indicative offer to acquire Tipp24 Services Limited from ZEAL Network SE (XTRA:TIM) for €76 million on January 11, 2019. Lottoland Limited will pay €26.65 per share in cash. The transaction includes Tipp24’s customers, any related intellectual property and the relevant infrastructure necessary to operate the website. The offer does not include MyLotto24 Ltd. The transaction is subject to due diligence. The deal is not subject to financing. Lazard & Co., Limited acted as financial advisor for ZEAL Network SE. Lottoland Limited cancelled the acquisition of Tipp24 Services Limited from ZEAL Network SE (XTRA:TIM) on January 11, 2019. As of January 11, 2019, the offer was rejected by the Executive Board of ZEAL Network SE stating it to be inadequate.