Wednesday, 31 August 2016

Delta Corp to buy Holding co

Delta Corp Limited is going to acquire Gauss Network, which owns, the company declared to exchanges. In a BSE filing, Delta Corp said: "With this transaction, Delta will widen its business horizon and increase its overall footprint, thereby consolidating its overall leadership position." 


The acquisition of the company will be divided partly in cash and equity. Delta Corp operates casinos and resorts in Goa. was the first to report news of this acquisition. 


Sources also tell the channel that the payment is expected to be back-ended, i.e. the company won't pay anything right now, everything will paid after the term of the deal which could take 15-20 months from now. Gauss Network is an online gaming portal where one can play online rummy and poker. 


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