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Nazara Technologies announced that Nodwin Gaming International (Nodwin Singapore), a wholly owned subsidiary of Nodwin Gaming
(Nodwin), material subsidiary of the Company, acquired 13.51% of Freaks 4U Gaming GmbH as follows:
(a) Conversion of its subscription of EUR 3,600,000 (equivalent to approximate Rs 33.26 crore) made on 27 December 2023 into 7366 Equity Shares (6.1% stake), and
(b) Contribution of additional capital of EUR 4,400,000 (equivalent to approximate Rs 41 crore) and subscribing to 9003 Equity Shares (7.4% stake) by executing an Investment agreement signed on 29 January 2024.
Nodwin Gaming International will appoint its nominee on Freaks 4U Gaming GMBH advisory board to supervise the synergies envisaged. Nodwin Gaming International has also obtained a right to acquire majority control of Freaks 4U Gaming GmbH in the future, through a stock-swap. If Nodwin exercises this right, such acquisition shall be effected by way of a share purchase agreement between Nodwin Gaming International Pte Ltd and the shareholders of Freaks 4U Gaming
GmbH.
Freaks 4U Gaming GmbH domiciled in Germany, is a global full-service gaming and esports company.
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