New acquisition by Globe Invest of Teddy Sagi - Public offer of £45.3 million aGlobe Invest Limited, owned by Israeli and Cypriot entrepreneur Teddy Sagi, has announced a public offer to acquire Best of the Best Plc ("BOTB"), valuing BOTB at £45.3 million.
The public offer for BOTB follows the successful completion of Teddy Sagi Group's public offer to acquire Kape Technologies Plc, valuing Kape at $1.6 billion. The public offer for BOTB is expected to be successful given the irrevocable commitment from certain shareholders to support it.
Eurobank Cyprus is financing the acquisition of BOTB with a £33 million facility, in line with the requirements of the UK City Code on Takeovers and Mergers.
Singer Capital Markets Advisory LLP and Bird & Bird LLP are acting, respectively, as Financial and Legal Advisers to Globe Invest Limited.
BOTB has been active in the skill-based competitions/games sector since its inception in 1999 with over 1.8 million customers in the UK. BOTB's shares have been admitted to trading on the AIM market in London since 2006.
Resource: