Catena Media has tapped Carnegie Investment Bank to act as a financial consultant, aiding the company in assessing strategic choices for the disposal of its remaining operations.
Carnegie will be actively engaged in talks with potential buyers interested in acquiring portions of Catena Media’s assets, as outlined in the agreement.
Last month, the company concluded a deal to sell AskGamblers to Gaming Innovation Group for €45 million (£39.7 million/$48.3 million), following iGB’s November report indicating an impending agreement for the sale of its flagship brand.
This development stemmed from a strategic review initiated last May, during which Catena Media explored the feasibility of a complete sale.
Subsequently, Catena Media expanded the scope of its review to contemplate divesting all its European betting and iGaming holdings, shifting its focus to the North American market. The company has confirmed that 25% of its European workforce was let go as part of this restructuring.
Catena Media has disclosed receiving expressions of interest from external parties seeking to acquire other segments of the group, encompassing strategic transactions or a public bid for the entire group.
As the firm seeks potential purchasers, no official bids have been submitted for the enterprise or its holdings.
Subscribe to the iGaming newsletter.