GiG plans €16.4m acquisition of 80% stake in 888AFRICA
By The Weekly Edge desk ·
Summary
GiG Software plans to buy 80% of 888AFRICA from evoke subsidiary Virtual Emerging Entertainment Limited for approximately €16.4m, SBC Africa reported. GiG approved an €8.5m fundraising through shares and convertible loans to support the initial payment. The transaction requires further approvals and definitive agreements, while founders would retain the remaining shares and management involvement.
Why it matters
GiG’s proposed 80% acquisition requires further approvals and definitive agreements, with founders retaining shares and management involvement.