La Française des Jeux Société anonyme (ENXTPA:FDJ) signed an agreement to acquire Premier Lotteries Ireland Limited from Teachers' Private Capital, An Post Limited and An Post Pension Fund for an enterprise value of ?350 million on July 27, 2023. The completion of this transaction remains subject to customary conditions precedent, including the Irish national lottery regulator's approval, which is expected to come in the second half of 2023.As on October 3, 2023, the Irish lottery regulator gave approval for the deal. The transaction is expected to be finalized in early November. Katherine Moir and Nicola Hemsley of Clifford Chance advised La Française and A&L Goodbody advised on certain Irish law aspects of the transaction. Andreas McConnell, Anna Hickey, Inez Cullen and Sean McElligott of Philip Lee Solicitors acted as legal advisors to the senior management team of Premier Lotteries Ireland. Richard Johnson, Helen Buchanan, Alex Potter and Deirdre Trapp from Freshfields Bruckhaus Deringer LLP acted as legal advisors to Teachers' Private Capital. Madeline McDonnell, Kate McKenna from Matheson Ormsby Prentice acted as legal advisors to An Post Limited in the transaction.
La Française des Jeux Société anonyme (ENXTPA:FDJ) completed the acquisition of Premier Lotteries Ireland Limited from Teachers' Private Capital, An Post Limited and An Post Pension Fund on November 3, 2023.