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Nektan Gains Big Cash for Sale of B2C Business to Grace Media

It came as no surprise that Nektan completed the sale of their UK B2C subsidiary to Grace Media for £200,000 ($262,969) as part of an overall restructuring plan.

The sale entails a deal with Grace Media on a B2B business to facilitate services the Nektan’s white label partners, thereby engendering monthly royalties.

Nektan’s interim Chief Executive Officer Gary Shaw stated about the deal that it is “very reassuring to all stakeholders involved” having developed the B2B relationship.

Meanwhile the company faces a £5.6 million remote gaming duty involving their U.K. B2C business and is currently devising a payment plan.

Part of Nektan’s expansion is the launching of twenty new sites in the near future. Will it be hindered by their suspension from trading on the London Stock Exchange? Not if they come through with missing annual reports.

Nonetheless, the sale to Grace Media is a major boon to Nektan, according to Shaw.

“For the administrators of NGL to secure the sale of the U.K. B2C business to a group of the caliber of Active Win Group … is very reassuring to all stakeholders involved.”

Source: https://calvinayre.com/2020/01/09/business/nektan-completes-sale-of-b2c-subsidiary-for-cash/

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Carol Kay

Carol Kay

Carol Kay is an American editor and writer living in California with a background in business and finance, health and fitness and popular culture. She is the author of numerous books and articles on a variety of subjects. She is dedicated to disseminating information of public import on the internet.

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