White & Case, Greenberg Traurig all in as poker site owner sold for $4.9bn
White & Case and Greenberg Traurig are among the firms scoring roles on the $4.9bn sale of the owner of online poker sites PokerStars and Full Tilt Poker to Amaya Gaming.
June 13, 2014 at 07:39 AM
3 minute read
White & Case and Greenberg Traurig are among the firms scoring roles on the $4.9bn (£2.9bn) sale of the owner of online poker sites PokerStars and Full Tilt Poker to Amaya Gaming.
Montreal-based gaming group Amaya will take over Isle of Man-headquartered Rational Group, owned by Oldford Group, in an all-cash deal, creating the world's largest publically traded online gaming company.
According to a statement from Amaya, PokerStars and Full Tilt Poker are the world's most popular and profitable online poker brands. They collectively have more than 85 million registered players.
Rational Group is also the largest producer of live poker tours and events and poker programming for TV and online audiences.
Canada's Osler Hoskin & Harcourt is representing Amaya alongside Greenberg Traurig, which was lead M&A counsel and provided law advice on aspects relating to the UK, the Netherlands and the US. Fox Rothschild has been retained as special gaming counsel to the corporation.
Osler fielded a team headed up by corporate partners Eric Levy, who was supported by fellow corporate partners Antonella Penta, Christopher Main, Desmond Lee, Rob Lando and Jason Comerford, as well as financial services partner Etienne Massicotte and tax partner Manon Thivierge.
Greenburg Traurig's team comprised partners from its offices in Miami, London, Atlanta, Amsterdam, Boston and New York. It was led by Miami corporate and securities partners Gary Epstein and Lorne Cantor, with London corporate partner Gary Cooper and Miami corporate partners Yosbel Ibarra and Drew Altman advising on the acquisition and Atlanta banking partner Cindy Davis on the financing of the deal.
The firm's London team also included funds and tax partner Justin Hamer, employment partner Russell Lamb and antitrust partners Lisa Navarro and Stephen Tupper.
Canadian firm McCarthy Tetrault is acting for the underwriters – which include Canaccord Genuity – on a related equity offering. Business law partners Patrick Boucher and Philippe Leclerc are leading its team.
The deal is expected to be completed in the autumn.
McCarthy Tetrault is also advising Blackstone Group's credit arm GSO Capital Partners, which has been backing Amaya's bid, on Canadian law matters, with White & Case acting as GSO's UK and US legal adviser.
Wall Street firm Cahill Gordon & Reindel is acting syndicate of lenders in relation to the loan financing.
Israel's Herzog Fox & Neeman and Canadian firm Stikeman Elliott also won roles advising on a related share offering.
Miami-based Greenberg Traurig gaming partner Marlon Goldstein was appointed as Amaya's executive vice-president and general counsel in January.
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