GVC £1.1 billion acquisition of bwin.party

1/2/2016
Acquisition finance, Public acquisition

£ 1.1 billion

$ 1.365 billion

Completed

1/2/2016


Overview:

  • GVC has completed its acquisition of bwin.party for £1.1 billion.
  • The new company will be listed on the LSE.
  • GVC won the bid after fending off a rival £900 million offer from 888
  • The deal follows the merger of Paddy Power and Betfair in a busy period for consolidation in the UK gaming sector.
  • The deal also saw GVC take out €400 million from Cerberus to facilitate the bid.

Sam Duke - Editor

Jurisdiction:

United Kingdom

Deal types:

Acquisition finance
Public acquisition

Practice area:

M&A

Industry sector:

Gaming


Firms:

Party: GVC (Acquirer)

Lawyer: Nick Pearey


Party: Cerberus (Lender)


Party: Cerberus (Lender)

Lawyer: Tristan Head


Party: bwin.party (Target)


Party: GVC (Borrower)

Lawyer: Sarah Francis


Party: Cerberus (Lender)