Gibraltar-based online bets company Lottoland Holdings is seeking to acquire UK-based online lottery holding company Zeal Network’s core German market assets in a takeover deal.

Under the pact, Lottoland offered a cash offer worth 76 million euros ($87.2 million) to acquire German market assets owned by Zeal Network.

Lottoland intends to present a counter-offer for certain Zeal assets while its stakeholders better value over the Lotto24 deal.

Lottoland said that its counter-offer will be reviewed and submitted to Zeal governance.