IFLR1000

CVC Capital Partners £800 million acquisition of 80% stake in Sky Bet

19/3/2015
Acquisition finance, Private acquisition
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£ 800 million

$ 978.443 million

Completed

19/3/2015

Overview:

  • CVC has acquired a controlling stake in Sky Betting & Gaming (Sky Bet), from Sky for £800 million.
  • Sky Bet includes Sky Vegas & Sky Casino, Sky Poker, Sky Bingo and Oddschecker.
  • CVC has taken 80% with 20% being held by Sky.
  • Goldman Sachs, Barclays and RBS acted as arrangers on the financing.

Sam Duke - Editor

Jurisdictions:

United Kingdom
Channel Islands: Guernsey
Channel Islands: Jersey

Deal types:

Acquisition finance
Private acquisition

Practice areas:

Private equity
M&A

Industry sector:

Gaming

Firms:
Debevoise & Plimpton

Party: Sky Bet (Management)

Lawyer: David Innes

Freshfields Bruckhaus Deringer

Party: CVC Capital Partners (Acquirer)

Lawyer: Tim Wilmot

Herbert Smith Freehills

Party: Sky (Seller)

Lawyers: Mark Bardell, Stephen Wilkinson

Mourant Ozannes

Party: CVC Capital Partners (Acquirer, Borrower)

Lawyers: Frances Watson, James Hill

Ogier

Party: Sky (Seller)

Party: Goldman Sachs (Lender)

Lawyers: Alexander Curry, Bruce MacNeil, Marcus Leese, Simon Dinning

Weil Gotshal & Manges

Party: Goldman Sachs (Lender)

Party: Barclays (Lender)

Party: Royal Bank of Scotland (RBS) (Lender)

Lawyer: Tom Richards

White & Case

Party: CVC Capital Partners (Borrower)

Lawyer: Martin Forbes

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