Koutalidis, working with Skadden, Arps, Slate, Meagher & Flom, has advised Cohn Robbins Holdings on the NYSE public listing of Allwyn Entertainment.
Closing is expected within the second quarter of 2022.
According to Koutalidis, Allwyn Entertainment, a multinational lottery operator and majority shareholder of Greece's OPAP, is the “new group-wide brand of Sazka Entertainment. The listing will result in an expected total enterprise value for Allwyn of approximately USD 9.3 billion while current Allwyn equity holders are expected to retain around 83% ownership in Allwyn. An innovative feature of the transaction provides CRHC shareholders the opportunity to establish ownership stakes at a maximum enterprise value of roughly USD 8.7 billion.”
Koutalidis did not reply to our inquiry on the matter.
Editor's Note: After this article was published, Clifford Chance announced it had worked with Kirkland & Ellis to advise Allwyn Entertainment on its listing on the NYSE. Joint placement agents were PJT Partners and Citi with Credit Suisse acting for Cohn Robbins Holdings as equity capital markets advisor. Winston & Strawn reportedly advised the placement agents.
According to Clifford Chance, “the NYSE Listing is another step towards Allwyn's growth and evolving into a global lottery-led entertainment platform. The expected total enterprise value for Allwyn is approximately USD 9.3 billion (almost CZK 200 billion) and the listing should result in greater access to capital markets to complement its strong balance sheet and cash flow generation, enhancing and expanding its global brand and building upon its reputation for transparency as a longstanding issuer of publicly traded bonds.”
Clifford Chance’s international team, including lawyers from London, New York, and Prague, was led by Prague-based Partner David Kolacek.
