Grey has advised the founders and other shareholders in connection with the sale of 93% of the shares in The Multi Group Ltd to 500.com Ltd. The purchase price amounts to approximately 50 million euro.
Multi Group is a Maltese limited liability company which provides online lottery betting and casino platforms in the Nordic countries.
500.com is a leading online sports lottery service provider in China and offers a comprehensive and integrated suite of online lottery services, information, user tools and virtual community venues to its users. 500.com is listed on the New York Stock Exchange (NYSE).
The acquisition is subject to approval by relevant regulatory authorities and customary conditions set out in the share transfer agreement.