29
Wed, Nov
52 New Articles

Schoenherr and Karanovic & Partners Advise on Sale of Maxbet to Flutter Entertainment

Schoenherr and Karanovic & Partners Advise on Sale of Maxbet to Flutter Entertainment

Serbia
Tools
Typography
  • Smaller Small Medium Big Bigger
  • Default Helvetica Segoe Georgia Times

Moravcevic Vojnovic and Partners in cooperation with Schoenherr has advised the shareholders of Maxbet on the sale of a 51% stake in the company to Flutter Entertainment for a cash consideration of EUR 141 million. Karanovic & Partners, working with Arthur Cox, advised Flutter Entertainment.

The transaction remains contingent on regulatory approval.

Maxbet is Serbia’s second-largest omni-channel sports betting and gaming operator.

Flutter Entertainment is a sports betting, gaming, and entertainment company. According to Schoenherr, Flutter also has the opportunity to acquire the remaining 49 % in 2029. “This transaction marks a strategic milestone for both companies. For Maxbet, this partnership represents a significant leap forward, aligning perfectly with their strategy to strengthen their local presence and enforce innovative growth opportunities. It also underscores Flutter's commitment to securing strong positions in regulated markets and replicating past successes in similar ventures with local heroes in Georgia and India.”

Earlier this year, Schoenherr had also advised Maxbet on its acquisition of El Dorado Slot Clubs from Bargame (as reported by CEE Legal Matters on January 9, 2023).

The Schoenherr team included Partners Luka Lopicic, Marija Vlajkovic, and Jelena Arsic, Attorneys at Law Pavle Eric, Zoran Soljaga, and Magdalena Petreska, and Associates Milos Jokic and Andrej Zoric.

The Karanovic & Partners team included Senior Partner Milos Vuckovic, Partners Ivan Nonkovic and Bojana Miljanovic Hussey, Senior Associate Sava Draca, and Junior Associate Ljubica Stojanovic.

Serbia Knowledge Partner

Committed to redefining a law firm's role in an emerging regional market, Gecić Law is a full-service law firm that advises international and local clients from the public and private sectors in navigating the complex legal landscape of the region across multiple practice areas. Members of the Gecić Law team have graduated from leading universities in the US and Europe. They have extensive local and international experience, with a particular focus on EU regulatory frameworks and international trade and a proven track record in providing innovative and practical solutions in the most complex of matters.

Gecić Law is an exclusive member of two leading global alliances, TerraLex and TAGLaw, extending its international footprint. The firm and its lawyers have continuously been recognized in several practice areas by elite global directories, including The Legal 500, Chambers and Partners and Benchmark Litigation. Gecić Law was named Law Firm of the Year: South Eastern Europe 2021 and Law Firm of the Year: Eastern Europe and the Balkans 2020 at The Lawyer European Awards and was repeatedly nominated in other practice areas.

For more details, please visit geciclaw.com.

 

Our Latest Issue