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BGI advised Paddy Power Betfair plc on the acquisition of a majority stake in Adjarabet

BGI advised Paddy Power Betfair plc (PPB) on the acquisition of a majority stake in Adjarabet, the largest online gaming business in Georgia, with 40% of the Georgian and 10% of the Armenian market share, in a transaction valued at EUR 116 million. Given the scale and regional impact of the transaction, it was dubbed “deal of the year” by the March 2019 issue of Forbes Georgia Magazine.

 “PPB’s entry into the Caucasus is a major game-changer and we are very proud to have been instrumental in the global giant’s successful expansion into the region. BGI’s involvement in this landmark transaction once again reaffirms our leading role on the Georgian legal services market – a place we have comfortably held for more than two decades.” - says Zaza Bibilashvili, BGI Senior Partner who led the team during this transaction.

 PPB a global sports betting and gaming operator, with market-leading positions in the UK, Ireland, Australia and the US. Its shares are admitted to trading on the London Stock Exchange and the Irish Stock Exchange (trading as Euronext Dublin) and constitute part of the FTSE 100 index, the  leading equity index including 100 largest companies listed on the London Stock Exchange by market capitalization.

BGI Legal is ‘exceptional' in M&A, financing and real estate, and is especially prominent in the energy sector. Lasha Gogiberidze, whom clients regard as ‘the top lawyer in Georgia for banking, finance and capital markets transactions', and Sandro Bibilashvili handled a number of innovative regional energy projects and joint ventures, such as the Adjaristsqali hydropower project.

Legal 500 - 2017

BGI is one of Georgia's leading firms in all areas of corporate law and in energy and infrastructure has acted on key projects in the oil and gas, energy, transport infrastructure areas. Previous comments have included: "Very good law firm for this jurisdiction...very knowledgeable, they get the job done on time and on budget...they are very professional and good lawyers". Thanks for universal praise from competitors and clients alike, BGI sits comfortably in the top tier... BGI is client-focused and solution-oriented... [with] excellent local counsel, not just for Georgian standards, but by international standards... [A major international client says:] "In terms of local law firms... I have a strong preference for BGI."

IFLR1000 - 2017

Solid team with vast experience of handling a wide spectrum of corporate and commercial as well as financial matters. Particularly well versed in project finance and boasts an impressive track record in some of the country's biggest energy and infrastructure projects. Popular choice for prominent international and local clients, including financial institutions and corporates from an array of industry sectors. Clients are impressed with the team's approach, saying: "The best thing is their coming up with proactive advice and suggesting a structure. They are able to work under pressure and respond immediately." Another client adds: "As soon as we give them a project we don't need to double-check anything." Other typical comments are: "They are a top-tier firm on the market with highly skilled, efficient and solution-oriented lawyers."

Chambers Europe - 2017