Latham & Watkins Advises on the Acquisition of Sisal by Flutter Entertainment
Flutter Entertainment plc has announced the acquisition of Sisal, Italy's leading online gaming operator, from CVC Capital Partners Fund VI for a consideration of €1.913bn/£1.62bn. The acquisition fully aligns with the Group's strategy of investing to build leadership positions in regulated markets globally. Subject to obtaining the required regulatory clearances, the transaction is likely to complete during Q2 2022 and is expected to be accretive to adjusted earnings in the first 12 months post-completion.
Latham & Watkins represents CVC and Sisal in the transaction, with a multidisciplinary team led from Milan by corporate partners Antonio Coletti and Giovanni Sandicchi, with associates Guido Bartolomei, Riccardo Coghe, and Marco Martino. Advice was also provided on regulatory matters by Milan counsel Cesare Milani and associate Edoardo Cassinelli, on antitrust matters by Brussels partner Luca Crocco and associates Lorenzo Sacco and Giuseppe Liotine, and on finance matters by London partner Jocelyn Seitzman, counsel William Lam, and associate Khayam Amin.