Kenneth Dart's Candle Lake Crosses Mandatory Bid Threshold For Sweden's Evolution

Billionaire U.S. investor Kenneth Dart has increased his stake in Swedish gaming group Evolution to about 30.02%, pushing the holding past the threshold that triggers a mandatory takeover offer. Dart’s vehicle, Candle Lake, based in the Cayman Islands, bought an additional 2.05 million shares in Evolution, according to the brief report. The move means Dart is now required to follow the rules linked to takeover thresholds in Sweden, setting up the possibility of a formal bid process. The update also signals that Dart remains committed to Evolution’s market position and future prospects as the company’s shareholders prepare for next steps.