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FDJ to Acquire Premier Lotteries Ireland
La Française des Jeux (FDJ) has signed an agreement to acquire Premier Lotteries Ireland (PLI), which holds exclusive rights to operate the Irish National Lottery until 2034. FDJ will acquire the entire share capital of Premier Lotteries Ireland for an enterprise value of 350 million euros.
Stéphane Pallez, Chairwoman and CEO of FDJ Group, said: “I am very pleased to welcome Premier Lotteries Ireland, a long-lasting partner of the Euromillions community, within the FDJ Group for our first venture as lottery operator outside France. This transaction is perfectly aligned with our international development strategy and our historical core business. It will enable FDJ to continue to grow while remaining true to its recreational, responsible and redistributive gaming model. We are looking forward to working together, taking the most of all collaboration opportunities.”
Premier Lotteries Ireland’s CEO Andrew Algeo said: “FDJ’s backing marks the beginning of an exciting new chapter in PLI’s history, which will benefit Ireland’s National Lottery and its many stakeholders. I am grateful to both OTPP and An Post who have been generous supporters of PLI, and the National Lottery has grown substantially and sustainably on their watch. The PLI team looks forward to creating an even better Irish National Lottery with FDJ and contributing to FDJ’s international lottery expansion.”
The completion of this transaction is subject to customary conditions precedent, including approval by the regulator of the Irish National Lottery, and is expected to take place in the second half of 2023. In this transaction, Clifford Chance and A&L Goodbody LLP served as legal counsel and BNP Paribas as financial advisor to FDJ.
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