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Ellex and Sorainen Advise on Financing for and Targets of Acquisition

Ellex and Sorainen Advise on Financing for and Targets of Acquisition

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Ellex Raidla has advised Nordic Trustee & Agency AB on its role in Future Gaming Group International AB's bond issuance to finance its acquisition of ViisTek Media in Estonia and Unlimited Media in Malta. Sorainen Estonia advised ViisTek Media and its shareholders on that subsequent acquisition. Counsel for Future Gaming Group was not disclosed on either transaction.

Future Gaming Group is a European gaming site owner and operator that is listed on the Stockholm stock exchange. Its gaming sites include SverigeKronan, SuomiVegas, PhaseOne, Playhippo, Happybingo, and VipStake, among others. 

Nordic Trustee & Agency organized the bond issue in the amount of up to SEK 200 million, and it is the security agent of the bonds. The value of the transaction was SEK 90 million, which was paid immediately, with another SEK 38 million to be paid upon the realization of certain conditions.

The Ellex Raidla team working on the transaction included Partner Sven Papp and Lawyer Mirko Kikkamagi.

The Sorainen team advising ViisTekMedia on its subsequent acquisition was led by Partner Toomas Prangli, supported by Senior Associate Piret Lappert.