Clifford Chance and Switzerland's Lenz & Staehelin have advised the KKCG AG investment company and pan-European lottery operator the Sazka Group on the EUR 500 million investment into the Sazka by funds managed by affiliates of Apollo Global Management. Baker McKenzie advised Apollo.
According to Clifford Chance, “Apollo's investment will be used by the newly established Sazka Entertainment AG, a previously wholly-owned subsidiary of KKCG, which upon closing of the investment, will become part of the Sazka Group. Most of the Apollo Funds’ EUR 500 million investment will be used to capitalize on acquisition and growth opportunities in Europe and North America, with a focus on lotteries. The transaction values Sazka Entertainment at EUR 4.2 billion (approximately CZK 111 billion).”
Clifford Chance's team included, in London, Partner Nigel Wellings and Associate Zahrah Mohammad, and in Prague, Partner David Kolacek, Counsel Michal Jasek, and Associate Mayowa Kalesanwo
Baker McKenzie’s team included London-based Partner David Allen, Zurich-based Partner Matthias Courvoisier, Vienna-based Partners Gerhard Hermann and Philipp Maier, Counsel Kathrin Hornbanger, and Associate Andrea Polzer, and Prague-based Partner Tomas Skoumal and Associate Dusan Hlavaty.