As noted by Catena, Carnegie Investment Bank will assist the group in assessing strategic options as part of conversations with third parties that have shown interest in acquiring certain assets, including all the remaining assets of the company.
Catena pointed back to its strategic review that was firstly announced in May 2022 and later expanded in August 2022, in which it communicated that the group continues to streamline in order to focus on the “fast-growing, regulated” North American market.
The company also referred to its announcement last month, whereby it stated that third parties have shown interest in acquiring other assets as part of this process, with Catena continuing to “evaluate the divestment of such.”
Catena added: “During these discussions, third parties have also shown interest in acquiring all the remaining assets of the group in a strategic transaction or through a public tender offer for the group.
“So far, the board of directors of Catena Media has received no firm or indicative bids for the group or any of its assets.”
As mentioned, Catena initiated a strategic review across certain areas of its business last May, with that announcement coming in the same week the gambling affiliate posted record quarterly revenue. The group posted Q1 revenue of €45.2m ($47.5m) for the period between January and March, which represented an 11% growth year-on-year.
August then saw the group expand its strategic review to cover its entire European business.
Catena was also in the news last month when Gaming Innovation Group (GiG) signed an agreement to acquire casino affiliate websites Askgamblers.com, Johnslots.com, Newcasinos.com and several smaller domains from the group for a total consideration of €45m.
