Today Cherry Group received a public offer at 87 SEK per share corresponding to a bid premium of 20% compared to the closing price of the 17th December. The consortium, EE Intressenter, mainly consists of the majority of shareholders of Cherry Group and Bridgepoint. We view the offer as relatively fair when taking into consideration the harsh market conditions and investor climate for iGaming, but still below our estimate of fair value that could materialize in a period of 12-18 months.