Greenberg Traurig (J. Albert Diaz)
Greenberg Traurig represented Canada-based Amaya Gaming Group Inc. in executing a $4.9 billion merger agreement with Oldford Group Ltd., the parent company of the world’s largest poker business.
Greenberg Traurig lawyers served as lead mergers and acquisitions counsel in the negotiation of the merger agreement with Britain’s Oldford, the privately held parent company of Rational Group, which owns and operates PokerStars and Full Tilt Poker brands.
Once completed, the transaction will result in Amaya becoming the world’s largest publicly traded online gaming company with more than 85 million registered players on desktop and mobile devices.
The merger is expected to close around Sept. 30.
As part of the deal, Greenberg also advised Amaya on commitments for $2.1 billion of senior secured debt facilities underwritten by Deutsche Bank AG’s New York branch, Barclays Bank PLC and Macquarie Capital (USA) Inc. and commitments for $800 million senior secured second lien term loan underwritten by the same lenders with participation from GSO Capital Partners LP and investment manager on behalf of its clients.
The Greenberg team was led by Miami shareholders Gary Epstein, Lorne Cantor, Yosbel Ibarra and Drew Altman; London shareholder Gary Cooper; and Atlanta shareholder Cindy Davis.