Ontario Teachers’ Pension Plan Board Sells Premier Lotteries Ireland to La Française des Jeux
Posted on 07/31/2023
Ontario Teachers’ Pension Plan Board entered into a definitive agreement to sell its majority shareholding in Premier Lotteries Ireland DAC (PLI) to La Française des Jeux (FDJ) or (FDJ Group), the lottery and online gaming operator. As part of the transaction, PLI’s other shareholders, An Post and the An Post pension fund, also will sell their minority shareholdings in PLI to FDJ. This announced was revealed on July 27, 2023.
PLI, headquartered in Dublin, is the operator of the Irish National Lottery having been awarded a 20-year licence by the Irish Government in November 2014. PLI’s core purpose is to operate a responsible world-class lottery for the people of Ireland, raising much needed Good Causes funding for the benefit of local communities throughout the country.
Since being awarded the licence to operate the Irish National Lottery, PLI has brought the game to its strongest-ever position and, in turn, raised over €1.9 billion for Good Causes, with 2021 and 2022 being the most successful years in that regard. FDJ will acquire the entire share capital of Premier Lotteries Ireland for an enterprise value of €350 million.
FDJ is the largest French lottery gaming operator. It operates a diversified gaming range across lottery and sports betting. FDJ and PLI have a long-standing partnership successfully operating the transnational EuroMillions lottery and FDJ has the resources and expertise to support PLI’s continued growth and development.
The transaction is subject to customary closing conditions and regulatory approval.
Advisors
In this transaction Clifford Chance and A&L Goodbody LLP served as legal counsel and BNP Paribas as financial advisor to FDJ.
Premier Lotteries Ireland is the operator holding the exclusive rights to the Irish national lottery until 2034. In 2022, Premier Lotteries Ireland recorded gross gaming revenue (GGR) of €399 million and revenue of €140 million. In 2014, the Irish National Lottery’s license was awarded, for a 20-year period until November 2034, to Premier Lotteries Ireland, a consortium led by Ontario Teachers’ Pension Plan, together with An Post, Ireland’s national postal service and the An Post Pension Fund.
Keywords: Ontario Teachers Pension Plan Board.
