11 November 2020
Clifford Chance advises KKCG and SAZKA on the strategic investment by Apollo Funds to support their global expansion in the lottery and gaming sectors
Leading International law firm Clifford Chance is advising KKCG AG ("KKCG"), the international investment company, and SAZKA GROUP a.s. ("SAZKA Group), one of the largest pan-European lottery operators, on the investment of €500 million from funds managed by affiliates of Apollo Global Management, Inc ("Apollo"), one of the world's leading alternative investment managers.
Apollo's investment will be used by the newly established SAZKA Entertainment AG (“SAZKA Entertainment”), a previously wholly owned subsidiary of KKCG, which upon closing of the investment, will become part of the SAZKA Group.
Most of the Apollo Funds’ €500 million investment will be used to capitalise on acquisition and growth opportunities in Europe and North America, with a focus on lotteries. The transaction values SAZKA Entertainment at €4.2 billion (approximately CZK 111 billion).
Clifford Chance has a long history working with KKCG and Sazka Group, which continues to flourish as we have recently advised them on a number of high-value transactions involving various Clifford Chance offices worldwide.
Clifford Chance's multidisciplinary and international team was led by Co-Head of London Corporate Nigel Wellings and Prague based Partner David Koláček with support from Associates Mayowa Kalesanwo and Zahrah Mohammad. The team was further supported by Corporate Counsel Michal Jašek.