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Karanovic & Partners Advises Ardent Group on Sale of Gaming1 to CVC Capital Partners

Karanovic & Partners Advises Ardent Group on Sale of Gaming1 to CVC Capital Partners

Serbia
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Karanovic & Partners, working with Freshfields Bruckhaus Deringer in Brussels, has advised the Ardent Group on the Serbian aspects of its sale of Gaming1 to CVC Capital Partners Fund VIII. Allen & Overy advised CVC on its investment and related financing.

Local advisers to the Ardent Group reportedly included Levine Keszler in France, Brigard Urrutia in Colombia, Lenz & Staehelin in Switzerland, Mamo TCV in Malta, and Morais Leitao in Portugal.

According to Karanovic & Partners, "CVC will bring its expertise to support the group’s growth in becoming a global reference in the regulated online gaming markets thanks to the continued development of their technology and through their unique omnichannel approach."

Part of Ardent Group, Belgium's Gaming1 operates land-based and online games including casino games, sports betting services, and poker. The Ardent Group is a Belgian company developing projects in entertainment, communication, and commercial property.

Established in 1981, CVC is a private equity company with a global network of 24 local offices in Europe, the Americas, and the Asia-Pacific region.

"In a rapidly changing world, the key to success is adapting," Ardent Group CEO Emmanuel Mewissen commented. "By partnering with CVC, we will benefit from their global, sector, and technology expertise, which will support our company to continue on our successful growth path and further build our digital capabilities. We will stay loyal to our values and Belgian roots, as shown by our recent move to our digital hub in the heart of Liege. This desire to anchor ourselves in and to contribute to our country's growth is an integral part of our identity and will continue to guide us daily."

The Karanovic & Partners team was led by Partner Ivan Nonkovic and Senior Associate Sava Draca.

Allen & Overy fielded teams in Belgium and the UK. 

Serbia Knowledge Partner

SOG in cooperation with Kinstellar is a full-service business law firm in Serbia that provides foreign and domestic clients with premium-quality legal advice and assistance across a wide range of key areas of corporate law. The firm was founded in 2015 by a group of seasoned, internationally-trained lawyers. SOG has developed a distinctively dynamic culture, bringing together top talent, fostering entrepreneurship, and maintaining exceptional relationships with its clients.

SOG has achieved consistent growth in the volume of its business, accompanied by an exponential increase in the number of hired associate lawyers and the firm’s network of business contacts. SOG has a robust client base of multinationals, investment and private equity firms, and financial institutions. Clients praise SOG for being commercially minded, very responsive and knowledgeable.

Establishing permanent cooperation with Kinstellar is part of realising SOG's long-term development strategy to be the leading provider of legal services in the Western Balkans market.

Firm's website: https://www.kinstellar.com/

 

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