(Alliance News) - Globe Invest Ltd, the investment company of Teddy Sagi, which is about to buy Best of the Best PLC, has reached a new level of acceptances for the latter's takeover.
Globe Invest now has about 97% of acceptances for its planned buy of the London-based operator of weekly online raffle competitions, which values the company at 535 pence per share, or around GBP45.3 million.
Globe Invest is investing to compulsorily buy the remaining Best of the Best shares.
Best of the Best shares were 0.8% lower at 525.76 pence each on Monday afternoon in London.
By Tom Budszus, Alliance News reporter
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