We are pleased to have successfully advised our long-term client Intralot on its €429M (including above par amounts) share capital increase in cash by way of a Combined Offering, and on its simultaneous €1.136 Billion (including above par amounts) share capital increase in-kind.
The Combined Offering involved the issuance of 390,000,000 new common registered voting shares, with a final offering price of €1.10 per share, and was met with strong investor demand, oversubscribing multiple times the New Combined Offering Shares ultimately offered.
This two-pronged share capital increase represents the final step in the now completed Bally’s Interactive acquisition by Intralot.
Our P&P team was led by Nikolas Katsaros Partner, Head of Finance and Capital Markets and Managing Partner, Nicholas Papapolitis.
We would like to extend our warm congratulations to the Intralot team, to Deutsche Bank, Goldman Sachs and Jefferies, which acted as Joint Global Coordinators and bookrunners for the Institutional Offering, and Barclays Investment Bank, which acted as senior bookrunner for the Institutional Offering, as well as the legal advisors Milbank LLP for Intralot, Latham & Watkins and Karatzas & Partners for the investment banks, and Fried Frank together with KYRIAKIDES GEORGOPOULOS Law Firm (KG Law Firm) for Bally’s Interactive, for their excellent collaboration throughout this process.
Finally, we congratulate the Greek managers Alpha Bank, AMBROSIA CAPITAL, Credia Bank (Attica Bank), Euroxx Securities SA, Optima bank, and Piraeus Bank, whose valuable contribution as co-managers was instrumental in the success of the Combined Offering.