Olympic Entertainment Group AS to Acquire Jessy Investments B.V. and Restructure Subsidiaries

Thursday, 13 Jun 2013 11:29am EDT 

Olympic Entertainment Group AS (OEG) announced that in relation to restructuring, OEG has decided to acquire 100% of the shares of the Dutch company Jessy Investments B.V. The acquisition process is to be finalized in June 2013. The fore mentioned transaction is not deemed to be a transaction between connected parties (under the Rules and Regulations of NASDAQ OMX Tallinn) and does not directly impact the economic activities of the OEG group. After the acquisition of Jessy Investments B.V. OEG transfers the 100% share holding in Osauhing Fortuna Travel to Jessy Investments B.V. Osauhing Fortuna Travel is an inactive company at the moment. OEG will increase the share capital of Jessy Investments B.V by making a non-monetary contribution, the object of the non-monetary contribution shall be a share of the Kesklinna Hotelli OU owned by OEG. The above transactions will be finalized in June 2013. After the above-mentioned transactions have taken effect, the subsidiary of OEG, Jessy Investments B.V. will own 100% of the shares of Kesklinna Hotelli OU and Osauhing Fortuna Travel. The above-mentioned transactions do not directly impact the economic activities of the OEG group. The members of management and supervisory board of OEG are not personally interested in the transaction in any other manner 

Company Quote

0.02 +1.10%
10:30am EDT