Ellex Raidla advised Gamesys Estonia OÜ in relation to its merger with JPJ Group
London-listed gaming operator JPJ Group PLC has entered into an agreement to acquire Gamesys Ventures in a transaction valued at up to €547million. This transaction is all 3: acquisition, reverse takeover and merger. Due to the scale of Gamesys and the fact that it’s a private company, the reverse takeover structure enables Gamesys to merge with a public company.
While the London game business is not part of the merger (it will be spinoff independently) Gamesys Estonia OÜ is. This means that by end of September this year, the deal is expected to be completed and Gamesys Estonia OÜ will be owned by a public company. The new public company will be renamed Gamesys Group plc.
This deal is one of the biggest in the industry. The main rationale for the deal was the increased financial benefits, power and development opportunities that bringing the two companies together would create.
The Estonian law aspects of the transaction were advised by Ellex Raidla Partner Sven Papp and Senior Associate Alla Kuznetsova.
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