Sayenko Kharenko advised Shanghai Giant Network Technology Co. (Giant) on the Ukrainian aspects of acquisition of Playtika Ltd (Playtika), one of the world’s largest social casino gaming company.
A consortium of leading Chinese private equity firms including Giant, one of China’s largest online gaming companies, purchased Caesars Interactive Entertainment (CIE) unit Playtika for USD 4.4 billion in an all-cash deal. The consortium includes Giant Investment (HK) Limited; Yunfeng Capital, a private equity firm founded by Alibaba Group Holding’s founder Jack Ma; China Oceanwide Holdings Group Co.; China Minsheng Trust Co.; CDH China HF Holdings Company Limited and Hony Capital Fund.
Playtika, headquartered in Israel, commenced operations in 2010 as a pioneer in free-to-play games on social networks and mobile platforms. By 2011, CIE acquired Playtika for USD 100 million. By being a part of CIE, Playtika expanded from a 10-person start-up to 1,300 employees by 2016 with studios and offices in Argentina, Australia, Belarus, Canada, Israel, Japan, Romania, Ukraine and the United States.
Sayenko Kharenko’s scope of work included legal due diligence of Playtika Group’s companies in Ukraine, transactional support, pre-closing group restructuring, closing and post-closing support. Fenwick & West and Allen & Overy led the transaction globally.
Sayenko Kharenko’s team was co-led by counsels Alina Plyushch and Oleksandr Nikolaichyk with support from senior associate Oleg Klymchuk and associates Mykyta Polatayko, Kateryna Zhebanova, Andriy Zhupanyn, Mykhailo Grynyshyn, Oksana Andronyk and Aida Karagezian. The project was supervised by partner Andrei Liakhov.