Kenneth Dart's Candle Lake raises Evolution AB stake to 30.02%, triggering mandatory bid

Published Jul 28, 06:39 PM UTC

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Billionaire U.S. investor Kenneth Dart, through his Cayman Islands-based entity Candle Lake, has increased his stake in Swedish gaming group Evolution AB to approximately 30.02%, surpassing the mandatory takeover offer threshold. According to a disclosure notice on Friday, Dart acquired 2.05 million shares, bringing his total holding to 59.8 million shares. Evolution provides online games and technology for online casinos. The move triggers a legal requirement for a mandatory bid under Swedish takeover rules, signaling Dart's significant influence over the company.

Source report

By Dominic Chopping

Billionaire U.S. investor Kenneth Dart has increased his stake in Swedish gaming group Evolution AB to approximately 30.02%, surpassing the threshold that triggers a mandatory takeover offer.

According to a disclosure notice released late Friday, Dart — acting through his Cayman Islands-based entity Candle Lake — has acquired 2.05 million shares in Evolution. This brings his total holding to 59.8 million shares.

Evolution provides online games and the technology behind online casinos.

Source

Yahoo FinanceWestern

Original headline: Kenneth Dart’s Candle Lake Crosses Mandatory Bid Threshold For Sweden’s Evolution

Original language: EN-US

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Kenneth Dart's Candle Lake Crosses Mandatory Bid Threshold for Sweden's Evolution

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Sweden