Highlight to acquire majority stake in Escor
Highlight Communications plans to acquire a majority stake in the Freiburg-based slot machine and gaming group Escor. The film and sports marketing company already holds 31.3 percent of the voting rights and shares in Escor.
The company is offering CHF 17.5 per share that is still in circulation. The offer is thus 9.4 percent higher than the closing price of Escor shares on Thursday. This was announced by Highlight on Friday morning. $
The media group's aim is to acquire 50.01% of Escor shares. The offer period will reportedly begin on October 10 and is expected to end on November 4. The company, which is listed on the German stock exchange, sees opportunities to expand Escor's entertainment offering. It intends to contribute its own expertise. Highlight also intends to support the strategic realignment announced by Escor.
Escor, based in Düdingen, slipped deep into the red in the first half of 2011. According to SDA, the consolidated loss amounted to CHF 3.88 million. In the same period of the previous year, Escor had posted a profit of 460,000 francs.
