HVK Stevens advised both the sellers and the company on the sale transaction of Betent BV to Entain PLC (LSE: ENT), listed on the London Stock Exchange. The sale has a value of Euro 850 million, for an initial consideration of Euro 300 million and a deferred contingent consideration of up to Euro 550 million.
Betent BV is known for the BetCity brand that conquered the Dutch gaming market with former Dutch prof football players such as Andy van der Meijde, Wesley Sneijder, Wim Kieft, and Sjaak Swart as faces of the brand. The buyer, Entain plc is a FTSE 100 company, active in more than 20 countries and five continents.
The HVK Stevens team, led by Tim Kok and Paulus Merks, further consisted of Willem Gerbers, Prof. Stan Stevens, Johan van Vulpen, Jacques Raaijmakers, Roos van der Beek, Joris van Wamelen, Koen Neutgens, Mike Hagendoorn, Romy van der Rijt, Tessel de Boer, and Indy Diependaal. In addition to HVK Stevens, Proskauer Rose and Brandeis acted for the sellers and Clifford Chance and Freshfields acted for the buyer.