ALLWYN AND COHN ROBBINS ANNOUNCE DECISION ON PROPOSED BUSINESS COMBINATION

Published: 16.10.2022 Related countries:  U.S.A. U.S.A.

Allwyn and Cohn Robbins have mutually decided not to proceed with commitment to combine the two companies. The major deciding factor in this decision, both companies stated, was a significant volatility of current markets.

Allwyn AG, a leading multinational lottery operator, and Cohn Robbins Holdings Corp., a special purpose acquisition company, announced that they have mutually agreed not to proceed with their previously proposed business combination.


Allwyn, Europe’s largest lottery operator1, received strong indications of support during recent meetings with investors, but the marketing period coincided with significant market volatility amid a backdrop of concerns about the prospects for inflation, interest rates and recession. Despite this, investors offered commitments of almost $700m to support the combination with Cohn Robbins.


After consideration, Allwyn and Cohn Robbins have jointly decided not to proceed with the transaction. Allwyn remains committed to joining the public markets in due course when conditions are more favorable and to expanding its business into the US.




Source: www.cohnrobbins.com

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