Unibet sells its holding in B2B Poker (Sweden) AB

Wed, 15 Feb, 2006 07:32 CET

Unibet Group plc has today sold its entire holding (23 per cent) of ordinary shares in B2B Poker (Sweden) AB, together with certain other rights and warrants, to its partner 24hPoker AB. The proceeds total SEK 15 million of which SEK 10 million is payable today and the remainder on 1 September 2006. Unibet’s investment to date is close to SEK 8 million. Furthermore, subject to certain conditions being fulfilled, Unibet is entitled to an additional consideration of up to SEK 7 million. Unibet will remain as a partner within the B2B Poker Network until 31 August 2006, with an option to renew the contract.

— This is in line with our strategy to downright a horizontal business model with focus on customer acquisitions and retention. Unibet will achieve a better flexibility within the poker network and a better opportunity to influence the services being provided as an important customer instead of an owner, comment Petter Nylander, CEO Unibet.