Pollard Banknote Limited announced that it has signed a definitive agreement to acquire 100% of the equity of Next Generation Lotteries AS („NGL“), a leading provider of lottery management and iLottery technology, for the purchase price of 36 million EUR. The Acquisition is subject to certain standard regulatory and third-party consents and is expected to close early in the first quarter of 2021.
This is a multi-jurisdictional acquisition, as NGL has lottery operations staff in Spain and Tunisia, as well as development staff in Iceland and Serbia. Karanovic & Partners team, lead by Partner Ivan Nonković and Senior Associate Sava Drača, carried out the local side of the transaction for Serbia on the buy-side, which was led by Torys LLP as the lead international legal counsel.
*Partner and Senior Associate refer to independent Attorney at Law in cooperation with Karanovic & Partners