Akin Advises TPG, Oaktree and Oak Hill on Financing for Recommended Acquisition of evoke by Bally’s Intralot
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(London) - Akin has advised funds managed by TPG, Oaktree Capital Management and Oak Hill Advisors, who led a group of lenders on the financing aspects of Bally’s Intralot S.A.’s recommended all-share acquisition of evoke plc. The lender group has agreed to provide a five-year second lien term facility of up to the euro equivalent of £889 million, which will be used to refinance certain of evoke’s existing indebtedness.
Under the terms of the transaction, announced on June 5, Bally’s Intralot and evoke have agreed to a recommended acquisition for the entire ordinary share capital of evoke to be effected by way of a scheme of arrangement under the Gibraltar Companies Act. The proposed acquisition values the entire issued, and to be issued, ordinary share capital of evoke at approximately £243.1 million. Completion of the acquisition is subject to customary conditions, including approval by evoke and Bally’s Intralot shareholders.
The Akin team was led by capital solutions partner Amy Kennedy and financial restructuring partner James Terry, alongside corporate partner Harry Keegan and tax partner Matthew Durward-Thomas.
The wider team included corporate counsel Bishoy Eskander and George O’Malley-Knowles, associate Jing Wen So, financial restructuring counsel Hermione Allen and associate Matthew Roderick.
Akin is a leading international law firm with more than 1,000 lawyers in offices throughout the United States, Europe, Asia and the Middle East.
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