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TGS Baltic, CMS, Ellex Raidla, and Clifford Chance Advise on JPJ Group Acquisition of Gamesys

TGS Baltic, CMS, Ellex Raidla, and Clifford Chance Advise on JPJ Group Acquisition of Gamesys

Deals and Cases

TGS Baltic and Clifford Chance have advised London-listed online gaming operator JPJ Group plc on the Estonian law aspects of its GBP 490 million conditional acquisition of UK-based software developer Gamesys Holdings Ltd. CMS and Ellex Raidla advised Gamesys on the deal.

JPJ will pay GBP 250 million in cash and GBP 240 million in shares. As a result of the transaction, the company will be renamed Gamesys Group PLC. JPJ will acquire Gamesys platforms and the operated brands of Virgin Games, Monopoly Casino, and Heart Bingo in the UK and Virgin Casino in New Jersey, USA. The acquisition does not include Gamesys' Virgin Bet sports betting business, its Livescore sports data, and media unit, as well as its non-bingo games studio and supply business. Gamesys shareholders will own 31% of the new group and Gamesys CEO, Lee Fenton, will become the CEO of Gamesys Group PLC. JPJ Executive Chair Neil Goulden in his respective role.

The transaction is expected to close in the third quarter of 2019 and is subject to JPJ shareholder approval, customary regulatory conditions, and the reorganization of the Gamesys Group. 

Gamesys was also reportedly advised by Mourant Ozanne in Jersey, Hassans in Gibraltar, Cuatrecasas in Spain, Fenech Farrugia Fiott Legal in Malta, and Saiber in New Jersey. Mishcon de Reya also advised JPJ on the acquisition. 

The TGS Baltic team consisted of Partner Kadri Kallas and Junior Counsel Mirko Kikkamagi.

Clifford Chance's team consisted of Partners Simon Thomas, Nelson Jung, and Steven Fox, alongside Senior Associates Fiona Garside and James Koessler, Associates Phoebe Richardson and Olivia Higgs, Lawyer Deepaloke Chatterjee, and Trainees Lisa Fogarty and Harriet Harper. 

CMS's team in the UK was led by Partner Rob Willis, supported by Partners Stephen Hignett, Anna Soilleux Mills, Melanie Lane, Caroline Hobson, David Zeffman, and Andrew Quayle, Of Counsel Jacob Gilkes and Cathy Merry, Lawyers Sarah Wright and James Pontifex, Senior Associates Sam Pout, Robert Sartor, Kabir Garyali, Rebecca Platt, Oscar Webb, and Nicole Gyring Nielsen, Associates Max Weaver, Janine Chisholm, Dave Johns, Alasdair Lamb,Amanda McDowell, Matt Hanson, Rachel Easter, Ruth Derruau, and Nathan Jest, and Trainee Ian McKie.

The CMS Vienna team consisted of Partner Peter Huber, Attorney-at-Law Martin Trapichler, and Associate Simon Cook. CMS's Prague teamincluded Senior Associate Lucie Zanaskova and Associates Petr Koral and Tereza Maternova.

The Ellex Raidla team consisted of Partner Sven Papp and Senior Associate Alla Kuznetsova.

The Mishcon de Reya team included Partners Stuart McMaster and Saul Sender.

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