The buildup to the eventual privatization of Cheer AB was in the open for everyone to see, but the company took the next big step on April 12. The Swedish online gambling operator have announced they will be delisting from the NADDAQ Stockholm in a press release.

The European Entertainment Intressenter Bidco AB (EE Intresenter) revealed that they now own more than 90% of Cherry’s shares, and now the Board of the operator have started the redemption process to absorb the remaining minority shares.

There is no announced final day of trading for Cherry as of yet, but Cherry will announce that date as soon as it receives confirmation from NASDAQ Stockholm.

This news follows the announced takeover of Cheery by EE Intresenter, which includes the CEO of Cherry’s rival, Pontus Lindwall of Betsson AB. In December, EE Intresenter owned no shares of Cherry, but between Lindwall and other members of the group, including Cherry founder Mortein Klein, it collectively had 47.4% of the firm at the time. They quickly scooped up an additional 11.6% of shares from other investors.