• 任何单字
  • 全部词汇
  • 精确搜索
Date:Thursday 4 December 2014
Title:CVC Capital Partners agrees acquisition of Sky Bet from Sky

CVC Capital Partners agrees acquisition of Sky Bet from Sky

CVC Capital Partners ("CVC") announced today that funds advised by CVC have agreed to acquire a controlling stake in Sky Betting & Gaming ("Sky Bet"), from Sky Plc ("Sky") in a transaction that values Sky Bet at £800 million. The price represents a multiple of approximately 15x EBITDA for the 12 months ended 30 June 2014, reflecting Sky Bet's record of strong growth and high cash generation.

Sky Bet was formed in 2001 and has grown rapidly to become one of the leading operators in the UK's online betting and gaming market, through its strong partnership with Sky Sports and its exceptional track record of technology and product innovation. Sky Bet was one of the first operators to recognise the potential of online and mobile platforms for betting and gaming, and today operates across a number of verticals: Sky Bet, its sports betting business; Sky Vegas & Sky Casino, its casino gaming businesses, Sky Poker and Sky Bingo. Oddschecker, the UK's leading odds comparison site is also part of the acquisition.

The Sky Bet management team, under the leadership of Managing Director Richard Flint, has been instrumental to Sky Bet's success. They will remain with the business under the new ownership structure, as will all of Sky Bet's employees.

Sky will work in partnership with CVC at Sky Bet, retaining an equity stake of approximately 20 per cent and having board representation. Sky Bet will continue its strong partnership with Sky Sports.

The transaction is subject to regulatory clearances in the UK and Ireland, and is expected to close in the first quarter of 2015.

Richard Flint, Managing Director of Sky Bet, said:

"Over the last 7 years, Sky Bet has grown rapidly to become one of the UK's leading online betting and gaming operators, achieved through the hard work of our employees and the valuable support of Sky and Sky Sports. Looking forward, we have exciting growth opportunities, both in the UK and internationally. Today's transaction brings in CVC as a new majority investor who will support us in the exciting next phase of our development, and retains the benefits of Sky's and Sky Sports' continuing involvement. CVC brings a broad international network, has an excellent track record of building businesses, as well as valuable experience in the betting & gaming sector, through previous investments in companies such as William Hill and IG Group."

Rob Lucas, Managing Partner of CVC, said:

"We are delighted to have agreed to acquire a controlling stake in Sky Bet. Richard Flint and his team have built a fantastic business, which is a leader in the fast growing mobile and online, betting and gaming markets. The partnership between CVC and Sky will provide a strong platform to support SkyBet's ongoing success at this exciting point in its development."

Notes to Editors

CVC was advised by OC&C Strategy Consultants, PWC and Freshfields Bruckhaus Deringer. Sky was advised by Goldman Sachs, Deloitte and Herbert Smith Freehills. Management was advised by Debevoise & Plimpton.

About CVC Capital Partners

CVC Capital Partners (‘CVC') is one of the world's leading private equity and investment advisory firms. Founded in 1981, CVC today has a network of 21 offices and over 300 employees throughout Europe, Asia and the US. Currently, CVC manages funds on behalf of over 300 investors from North America, Europe, Asia and the Middle East, amounting to over US$56 billion. CVC has during the last 30 years completed over 300 investments with an aggregate transaction value of over US$125 billion globally.

Media Contact

CVC Capital Partners
Carsten Huwendiek, Head of Communications
Tel: +44 20 7420 4240