ZEAL Network SE Announces Squeeze-Out Request for Lotto24 AG Shares

In a strategic move, ZEAL Network SE, on 27 March 2024, disclosed its intentions towards a full acquisition of Lotto24 AG by submitting a squeeze-out request. This declaration was made following ZEAL Network's assertion of possessing 95.12 percent shareholding in Lotto24 AG. The request is aimed at obtaining the remaining shares from minority shareholders, offering them appropriate cash compensation in exchange.

The requisition, lodged according to Section 327a (1) of the German Stock Corporation Act, seeks the approval of Lotto24 AG's Annual General Meeting for the transfer of minority shares to ZEAL Network SE. The exact cash compensation value for the squeeze-out process is to be detailed in a forthcoming communication, branded as the concretized request, upon its final determination.

ZEAL Network SE's maneuver represents a significant consolidation step within its market domain, marking a pivotal moment in its operational strategy by potentially streamlining Lotto24 AG's ownership structure.