May 30, 2017 / 6:41 AM / 6 months ago

BRIEF-Stillfront acquires eRepublik Labs

May 30 (Reuters) - STILLFRONT GROUP AB (PUBL)

* REG-STILLFRONT GROUP AB: STILLFRONT ACQUIRES EREPUBLIK LABS

* ANNOUNCES ITS ACQUISITION OF 100% OF SHARES IN EREPUBLIK LABS

* COMPLETION OF ACQUISITION IS EXPECTED TO OCCUR AROUND 27 JUNE 2017.

* UPON COMPLETION OF ACQUISITION, EUR 7,500,000 WILL BE PAID TO SELLERS

* FURTHER, AN EARN-OUT CONSIDERATION IS PAYABLE BY STILLFRONT, PROVIDED THAT CERTAIN TARGETS ARE MET, IN AN AGGREGATE MAXIMUM TOTAL AMOUNT OF EUR 13,000,000

* PURCHASE PRICE PAYABLE BY STILLFRONT FOR EREPUBLIK SHALL IN AGGREGATE NOT EXCEED EUR 20,500,000

* STILLFRONT WILL PROVIDE A LOAN TO EREPUBLIK IN AMOUNT OF EUR 500,000 TO FACILITATE EREPUBLIK‘S REPAYMENT OF DEBT Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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