Hengeler Mueller advises Günther Group on ZEAL Network’s takeover offer for Lotto24

20. November 2018

ZEAL Network SE announced an all-share voluntary takeover offer (share-for-share) for Germany's largest private digital lottery broker, Lotto24 AG. On completion, the transaction will create a digital lottery group with currently more than 5 million combined customers globally and current combined billings of about EUR 500 million per year. ZEAL entered into irrevocable tender agreements with major shareholders of Lotto24, including Günther Group, the largest shareholder in both Lotto24 and ZEAL. In connection with the transaction, ZEAL intends to transform its German secondary lottery business into a locally licensed online brokerage model.

Hengeler Mueller advised Günther Group on all aspects of the transaction. The team included partners Kai-Steffen Scholz (lead partner, Corporate/M&A, Berlin), Dirk Busch (Capital Markets), Dirk Uwer (Public Law), Thorsten Mäger (Antitrust) (all Düsseldorf) and Ernst-Thomas Kraft (Tax, Frankfurt), counsel Markus Ernst (Tax, Munich) and Jörg Meinzenbach (Antitrust, Düsseldorf) as well as associates Martin Tasma (M&A, Berlin), Verena Gehrig (Tax, Frankfurt), Oda Christiane Goetzke (Capital Markets/M&A), Susanne Koch (Public Law) (both Düsseldorf), Fabian Kunkel and Marie Theres Niedermaier (both Corporate/M&A, Berlin).

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