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.
Presented by the team of employees of CzechTrade Chicago, USA.