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Gameforge Purchases Majority Stake In Frogster Interactive

by Rainier on Aug. 4, 2010 @ 9:53 a.m. PDT

Germany-based online games publisher Gameforge is offering each shareholder of Frogster Interactive, the acquisition of their Frogster shares for a price of €25 (approximately $33) per share in cash.

Gameforge’s offer price of €25 is currently 25.4 percent higher than the weighted average price of Frogster shares for the three trailing months prior to the announcement of this transaction.

Through a subsidiary, Gameforge purchased 36.8 percent of the Frogster shares from a pooled shareholder group. Gameforge’s holdings included 23.2 percent of Frogster’s shares, meaning that currently, the Karlsruhe-based company holds a 60 percent majority share of Frogster and therefore 60 percent of the voting rights of Frogster AG.

"By holding a stake in Frogster, we are strengthening our position in this internationally competitive environment," says Christoph Jennen, CFO of Gameforge AG. "Together with Frogster, we see a good opportunity to expand our presence in the online gaming market even further."

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