Allwyn in Merger Talks with SPAC Cohn Robbins Holdings Corp

Allwyn in Merger Talks with SPAC Cohn Robbins Holdings Corp post thumbnail image

European lottery operator Allwyn and Cohn Robbins Holdings Corp. are in talks for a probable merger, a Bloomberg report based mostly on unnamed resources claims.

An additional SPAC-Rumored Offer

Allwyn, which also operates digital gaming and athletics betting companies, held talks with a special intent acquisition enterprise (SPAC) led by former Goldman Sachs executives Gary Cohn and Clifton Robbins Cohn Robbins Holdings Corp. The SPAC is a single of the premier acquisition vehicles obtainable on the industry, armed with $828 million given that its first general public giving (IPO) in September 2020.

According to the report, if a deal is to be finalized, it would be as early as January up coming year as the SPAC tried to raise resources in a personal expenditure in general public fairness (PIPE) in help of the transaction and the whole valuation of the transaction is unclear at the second.

Previous president and chief functioning officer of Goldman Sachs, Cohn, remaining his government position in the financial commitment bank to be part of the advisory workforce of President Donald Trump as his chief financial adviser, while Robbins is recognised for founding Blue Harbour Group activist hedge fund which ceased functions in 2020.

The Path to World-wide Growth

Allwyn, the new title of Sazka Leisure, which rebranded earlier in the thirty day period to better replicate its ambitions for international growth to “evolve from a pan-European lottery operator into a global business enterprise,” runs lotteries in Austria, the Czech Republic, Greece, Cyprus and Italy.

The lottery operator is at this time searching to include the British isles to its lottery portfolio by participating in the tender for the fourth United kingdom National Lottery license, hunting to fend off competition from Italian operator Sisal and Northern & Shell. Before in the yr, the gambling team employed the companies of Brent Hoberman in a board advisory role to aid its bid for the license.

In March, the non-public investment fund with really serious interests in the gambling field Apollo Worldwide Administration invested by way of its affiliates €500 million ($566 million) in the gambling group that has a professional-rata internet personal debt of $1.5 billion according to its most up-to-date filings.

Subsequent an amazing 2nd quarter and very first 50 % report with triple-digit growth in consolidated gross gaming earnings, Allwyn posted a 14% raise in consolidated gross gaming revenue in Q3 2021 to €876.2 million ($992 million) 12 months-over-calendar year.

Representatives from both equally Cohn Robbins Holdings Corp. and Allwyn declined to comment on the data offered in the report.

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