Kindred Group plc (OM:KIND SDB) agreed to acquire remaining 66.6% stake in Relax Gaming Limited for 190 million on July 2, 2021. Kindred will pay an initial consideration, settled in cash upon completion, of approximately 80 million on a cash and debt free basis. In addition to the initial consideration, the maximum earn-out payments amount to 113 million and may become payable in 2022 and 2023, subject to Relax Gaming achieving certain earnings thresholds. The transaction will be financed through Kindreds existing cash and credit facilities. The transaction values the company at up to 320 million on a cash and debt free basis for 100% shares and total value of the outstanding shares of approximately 295 million. In the last twelve months leading up to May 31, 2021, Relax Gaming generated revenues of approximately 25 million with an EBITDA of approximately 10 million. The transaction is conditional to customary regulatory approvals and is expected to be completed in the fourth quarter of 2021. JPMorgan Chase & Co. (NYSE:JPM) acted as financial advisor and Peter Lilja, Maria Arnoldsson and Ulrica Salomon of Cirio Advokatbyrå AB acted as legal advisor to Kindred. Tero Jormanainen and Mikko Manner of Roschier, Attorneys Ltd. acted as the legal advisor to the shareholders of Relax Holding Limited in the transaction. Sven Papp and Jaanus Ikla of Ellex acted as legal advisor to Kindred Group.