Sayenko Kharenko, working with global advisors Fenwick & West (leading transaction counsel) and Allen & Overy (coordinating counsel), has advised Shanghai Giant Network Technology Co. on Ukrainian aspects of the USD 4.4 billion all-cash acquisition made by a consortium of Chinese private equity firms of Playtika Ltd (Playtika), one of the world’s largest social casino gaming companies, from Caesars Interactive Entertainment (CIE). Sorainen advised on Belarusian matters.
The consortium consists of SGNT, Giant Investment (HK) Limited; Yunfeng Capital (a private equity firm founded by Alibaba Group Holding’s founder Jack Ma); China Oceanwide Holdings Group Co.; China Minsheng Trust Co.; CDH China HF Holdings Company Limited; and Hony Capital Fund.
Playtika, which is headquartered in Israel, began operations in 2010 as a pioneer in free-to-play games on social networks and mobile platforms. In 2011, it was acquired by CIE for USD 100 million. As part of CIE, Playtika expanded from a 10-person start-up to 1,300 employees by 2016 with studios and offices in Argentina, Australia, Belarus, Canada, Israel, Japan, Romania, Ukraine, and the United States.
According to Sayenko Kharenko, the firm’s work included “legal due diligence of Playtika Group companies in Ukraine, transactional support, pre-closing group restructuring, closing and post-closing support.” The firm’s team was supervised by Partner Andrei Liakhov and co-led by Counsel Alina Plyushch and Senior Associate Oleksandr Nikolaichyk with support from Senior Associate Oleg Klymchuk and Associates Mykyta Polatayko, Kateryna Zhebanova, Andriy Zhupanyn, Mykhailo Grynyshyn, Oksana Andronyk, and Aida Karagezian.
In addition to their roles as leading transaction counsel and coordinating counsel, respectively, Fenwick & West advised on Delaware law, and Allen & Overy advised on UK, Romanian and Russian law. In addition, the Yigal Arnon firm advised on matters of Israel law.
According to Sayenko Kharenko, legal counsel on the seller’s side included Latham & Watkins, Potter Anderson Corroon, Borden Ladner Gervais, and Addisons Lawyers.