The move comes after DBAY upped its share stake in Creston to 28% in April. DBAY has created a new company called RedWhiteBlue Digital Marketing Services Holdings Ltd to facilitate the deal.k
DBAY has been a significant shareholder in Creston for two years and the acquisition reflects the company’s “progressive interest” in the business, according to Alex Paiusco, DBAY’s chief executive.
Under the terms of the acquisition, each Creston shareholder will be entitled to 126.42p in cash for each Creston share, comprising 125p in cash from Bidco and 1.42p from an interim dividend paid by Creston in December.