Issuing a corporate filing, the governance of Deutsche Borse listed Zeal Network has revealed that enterprise co-founder and active shareholder Marc Peters has declared his support for the acquisition of German market rival Lotto24 AG.
Peters who founded the company in 2000, alongside partner Jens Schumann has detailed his support of a takeover of Lotto24 to Zeal investors, backing corporate governance’s future strategy.
“Having reviewed the proposed transaction as well as the recent changes in the regulatory environment in detail, I have come to the conclusion that both the business model change, as well as the proposed transaction with Lotto24, are the right way forward for the company” reads Marc Peters statement.
Zeal’s latest communication follows last week’s confirmation by governance that it would not proceed with putting forward Lottoland’s proposed €76 million offer to buy-out Zeal’s German market assets.
In its statement, Zeal governance labels Marc Peters endorsement of the takeover as a further ‘confirmation of its planned corporate transformation for the German lottery market’ and the best strategy for stakeholders moving forward.
Zeal’s scheduled shareholder vote on the Lotto24 takeover will take place this 18 January, with shareholders unable to attend having been told to submit proxy votes before the deadline of 09.00 GMT on Wednesday 16 January.