Catena Media appoints Carnegie Investment Bank as financial advisor

Catena Media plc has mandated Carnegie Investment Bank AB (publ) as financial adviser to assist the company in assessing strategic options for the potential sale of the remainder of its business.

In a statement posted to the Malta Stock Exchange, Catena described Carnegie as a financial advisor that would assist in considering options “as part of conversations with third parties that have shown interest in acquiring certain assets, including all the remaining assets of the group.”

As already communicated, the group continues to streamline the business to focus on the fast-growing, regulated North American market.

“As announced on 15 December 2022, third parties have shown interest in acquiring other assets as part of this process, and the group continues to evaluate the divestment of such.”

Indeed, in December, Catena entered into an agreement to sell its AskGamblers business and associated global casino brands for €45 million on a cash and debt free basis to a wholly owned subsidiary of Gaming Innovation Group Inc.

Catena further shared that third parties have also shown interest in acquiring all the remaining assets of the group in a strategic transaction or through a public tender offer for the group.

“So far, the board of directors of Catena Media has received no firm or indicative bids for the group or any of its assets.”