One of the world’s leading betting and gaming companies sells its Latvian business

888 Holding Plc, one of the world’s leading betting and gaming companies with internationally renowned brands including William Hill, 888 and Mr Green, has reached an agreement to sell its indirect shareholding in two Latvian subsidiaries, Mr Green Latvia SIA and William Hill Latvia SIA, to Nordic gaming company Paf Consulting Abp. Within the transaction Paf acquires 100% of shares in William Hill Latvia SIA and its subsidiary Mr Green Latvia SIA. The acquisition will make Paf the third largest gaming company in the Latvian market.

The total consideration  of the transaction is up to EUR 28.25 million.

Completion is anticipated to occur in the coming weeks.

The COBALT M&A, tax and IP teams advised 888 throughout the entire sales transaction and was led by Partner Guntars Zīle and Senior Associate Diāna Zepa, and included Partner Sandija Novicka, Senior Associates Agnese Gerharde, Jānis Sarāns and Marija Berdova, and Associate Vadims Zvicevičs.

888 Holding Plc, better known as 888, is one of the largest betting and gaming companies in the world with operations in several different markets and over 11,000 employees.