Paddy Power Betfair €116m acquisition of 51% stake in Adjarabet

1/2/2019

Private acquisition

Value:

€ 116 million

Dollar value:

$ 145.644 million

Status:

Announced

Date:

1/2/2019

Overview:

Irish bookmaker Paddy Power Betfair has announced the acquisition of a controlling stake in Georgian gambling company Adjarabet for €116 million.
Adjarabet is licensed to offer online betting and gaming products in Georgia, including casino, sports, poker and peer-to-peer games. It holds an estimated 40% of total online revenues.

Jurisdictions:

Georgia
Armenia

Deal type:

Private acquisition

Practice area:

M&A

Industry sectors:

Gaming
Entertainment

Firms:

BGI Legal

Party: Paddy Power (Acquirer)

Lawyers: Unana Gogokhia, Zaza Bibilashvili

Dentons

Party: City Loft (Seller)

Lawyers: Avto Svanidze, Irakli Pipia

Freshfields Bruckhaus Deringer

Party: Paddy Power (Acquirer)

Lawyers: Martin Hutchings, Oliver Lazenby

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