Hong Kong-based Gopher Investments has acquired London-headquartered fintech company Finalto, the financial trading division of online gambling software supplier Playtech, for USD250 million. White & Case acted as instructing counsel and Bedell Cristin was the British Virgin Islands counsel to Gopher.
The White & Case team was led by partner Tom Matthews in London, with support from other London-based partners Jonah Anderson, Nicola Chapman, Amanda Cowell, Tim Hickman, Helen Joseph, Jonathan Rogers, Will Smith, Philip Trillmich and Mike Weir, as well as counsels Nathaniel Crowley in Hong Kong and Sara Nordin in Brussels. Associates from London, New York, Hong Kong, Frankfurt, Singapore, Brussels and Sydney offices were also involved in the transaction.
The Bedell Cristin team, providing advice on offshore regulatory aspects, was led by Singapore-based partner Kristian Wilson, with the help of Jersey-based associate, Philip Kendall. The firm also advised on matters related to corporate law, IP and property requests.
Gopher Investments is an investment vehicle backed by investors with experience in gaming and financials. It is one of Playtech’s largest minority (4.97%) shareholders.
The transaction is expected to be completed in the first half of 2022, subject to shareholder approval and regulatory clearances.