Bryan Cave Leighton Paisner advised Playtech plc on the sale of its financial trading division
International law firm Bryan Cave Leighton Paisner LLP (BCLP) has advised Playtech plc (Playtech) on the proposed sale of its financial trading division, Finalto, to Gopher Investments (Gopher) for US$250 million in cash. Gopher is a 4.97% shareholder in Playtech.
The transaction is expected to close in the first half of 2022 subject to shareholder approval and regulatory clearances.
Playtech, a leading technology company in the gambling industry, delivers business intelligence-driven gambling software, services content and platform technology across the industry, including casinos, sports betting, virtual sports, bingo and poker. The sale will enable the company to focus on its core gambling business in line with its strategy.
The BCLP team was led by Partner Kurt Ma (M&A and Corporate Finance) with support from Partner Benjamin Lee, Senior Associate Tom Bacon, Associate Olivia Scott and Trainee Yaniv Grunberg (M&A and Corporate Finance).
The deal team also included Partners Oran Gelb and Sarah McAtominey from Litigation and Investigations, Partner Derek Hrydziuszko and Associate Richard Beazley from Banking, and Partner Matthew Baker from Investment Management.
Partner Ian Ivory and Associate Amelia Jansen (M&A and Corporate Finance) and Partner Richard Harbot and Associate Hugo Clark-Ryan (Tax Advice and Controversy) advised on the management warranty and disclosure process.
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