mybet offloads stake in pferdewetten.de

mybet Holding has sold its stake in German operator pferdewetten.de to a number of individual investors.

Although the financial details of the individual transactions were not disclosed, mybet said that it will publish the total purchase price after the closing of each deal.

mybet had held a total of 1,810,307 unlisted shares in pferdewetten.de.

In a statement, mybet said that the sale is connected with ‘alternative scenarios’ regarding the securing of the firm’s financing, which was referred to in its report for the 2015 financial year and also the statement on its performance in the first quarter of this year.

Zeno Osskó, chief executive of mybet, added: “Due to the unforeseeable stay out of the funds from the C4U transaction we were forced to make a decision that we would have liked to avoid.

“To part with our subsidiary pferdewetten.de was the most expedient of the alternatives available to us, taking into account the ongoing focusing of our business on the areas of sports betting and casino.”

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