Supplier News
Australia – AGT shareholders approve Novomatic acquisition
By Lewis - 7 July 2016
Following the meeting of shareholders held earlier this month, Ainsworth Game Technology (AGT) is pleased to announce the proposed acquisition of Mr Ainsworth’s 52.2 per cent stake to Novomatic has been approved. The completion of the share sale is now subject to a range of regulatory and gaming licence approvals.
AGT Chief Executive Officer Danny Gladstone said: “From AGT’s perspective, we are pleased that shareholders have passed the Resolution. While the process has been protracted, this is an important and exciting point in AGT’s development.”
Novomatic’s Chief Executive Officer Harald Neumann said that through Novomatic’s majority shareholding, AGT will benefit from collaboration across a range of markets that will be substantially positive for long term shareholder wealth creation. Mr. Neumann emphasised: “We value the trust and support by the minority shareholders through the positive vote of approving the share transaction and will make every effort to meet their expectations. We will commence implementing the binding commitments as outlined in the Notice of Meeting to crystallise the expected benefits of the relationship.”
Mr Gladstone added: “We are delighted to have received shareholder support and look forward to working with Novomatic on the completion of this transaction and delivering on the expected benefits for our shareholders.”
