Ropso Malta Limited completed the acquisition of Headlong Limited and other companies that comprise the Turkish facing operations from GVC Holdings PLC.

Ropso Malta Limited agreed to acquire Headlong Limited and other companies that comprise the Turkish facing operations from GVC Holdings PLC (LSE:GVC) for €150 million on November 2, 2017. As per the terms of the transaction, a maximum of €150 million will be paid in cash as earn-out consideration based on the performance of the business. The consideration is receivable on a monthly basis over a five year period. In the year ended December 31, 2016, Headlong and associated businesses generated approximately €35 million of EBITDA and had gross assets of €21 million as at December 31, 2016. The deal is conditional on gaming regulatory and lender approval and is expected take place by the end of December 2017. Following completion, transitional services arrangements have been agreed for an initial limited period not to exceed 6 months. The proceeds from the sale will be used for general corporate purposes by GVC Holdings PLC. Ropso Malta Limited completed the acquisition of Headlong Limited and other companies that comprise the Turkish facing operations from GVC Holdings PLC (LSE:GVC) on December 20, 2017. The sale was completed following receipt of the required regulatory approvals.