Lucy Frew
Partner
Cayman Islands
The acquisition of all of the outstanding ordinary shares for $29.50 per share represented an enterprise value of approximately US $1.2 billion for Neo Group Ltd.
In May 2023, Walkers advised Neo Group Ltd, a technology-driven provider of end-to-end iLottery and iGaming solutions, in relation to its entry into the definitive Business Combination Agreement with Aristocrat Leisure Limited, a leading mobile and casino games content creator headquartered in Australia. Walkers continued to advise Neo Group Ltd as the acquisition reached its close on 25 April 2024.
Iris Etgar, Executive Vice President, Legal Affairs at Neo Group Ltd said:
"Walkers expertly advised NeoGames through our M&A journey with respect to all the Cayman aspects of the Aristocrat acquisition.
Their professionalism and expertise throughout made all the difference in completing the transaction."
Lawyers from Walkers' London office advised as Cayman Islands counsel, alongside lead counsel Latham & Watkins, and jurisdictional counsels Herzog Fox & Neeman and Allen & Overy.
The Walkers team was led by London-based partner, Neil McDonald, who commented:
"We’re delighted to have advised Neo Group Ltd through to the successful completion of this important transaction, and wish both parties continued success under the new Aristocrat Interactive operation. The Walkers team possesses unparalleled corporate, finance and regulatory expertise advising on Cayman Islands structures in cross-border M&A from the EMEA time-zone and we were able to bring this expertise to bear on this matter.”
The Walkers team was comprised of partners Jennifer Maughan and Lucy Frew, senior counsel James Denham, senior associate Tom Esler, and associate Catherine Outerbridge.
