Shareholders of DD3 Acquisition, a special purpose purchasing company, have approved the group's proposed business combination with Codere Online. This merger will result in Codere Online, valued at $ 350 million, becoming a public company, listed on the US Nasdaq stock market. The new company will be majority owned by Codere, which maintains the management of the new group.
According to DD3, the transaction will be final around November 30, 2021, subject to the satisfaction of certain customary closing conditions.
On the other hand, they highlight that the company's mission is to be the leading online sports betting and gaming operator in Latin America, for which the strength of the brand and high visibility through long-term sponsorships are key. They also plan to access the Hispanic market for online gaming in the United States.
Regarding this strategic merger, Vicente Di Loreto, CEO of Codere Group, highlighted that "will provide our online team with the financial resources needed to grow Codere Online and take it to a new, higher level".
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