Enjoy S.A. (SNSE:ENJOY) agreed to acquire Dreams S.A. from Nueva Inversiones Pacifico Sur Limitada on January 13, 2022. Dreams shareholders will be in charge of 64% of the combined entity's shares, while Enjoy's will have the remaining 36%. For the merger to be completed, it still needs to be approved by the Superintendency of Gambling Casinos of Chile (SCJ for its initials in Spanish), the Financial Market Commission (CMF), and the Chilean National Economic Prosecutor's Office (FNE), as well as other governmental authorities of other countries in which operations are maintained. In addition, the initiative must be voted in favor by the shareholders' extraordinary meetings of both companies. It also needs the approval of the respective extraordinary boards. The Transaction is subject to antitrust regulations and expected to close in second half of 2022. CMS von Erlach Poncet acted as legal advisor to Dreams S.A..

Enjoy S.A. (SNSE:ENJOY) cancelled the acquisition of Dreams S.A. from Nueva Inversiones Pacifico Sur Limitada on April 11, 2023. The closing of the merger was subject to the fulfillment of a series of conditions, the last of which had to be met on or before July 13, 2023. Through information sent to the regulator, Dreams and Enjoy indicated that they decided not to continue with the merger process between the two companies since some "suspensive conditions" were still pending the materialization of its approval.