€892 Million Public Cash Offer for Shares in Cherry


White & Case LLP has advised European Entertainment Intressenter BidCo AB (EE Intressenter) on the public cash offer to the shareholders in Cherry AB to acquire all Cherry shares at a price of SEK 87 per share.

The total value of the Offer based on all series A and series B Cherry shares amounts to nearly SEK 9.2 billion (around €892 million).

EE Intressenter is jointly controlled by a consortium consisting of Bridgepoint Advisers Limited, acting as managers for and on behalf of the limited partnerships Bridgepoint Europe VI Fund, Prunus Avium Ltd, Klein Group AS, Audere Est Facere AS, Pontus Lindwall, Berkay Reyhan and Can Yilanlioglu. All members of the consortium, with the exception of Bridgepoint, are shareholders in Cherry.

Cherry is one of Scandinavia’s oldest gaming companies, with operations dating back to 1963. Cherry invests in, owns and develops fast-growing gaming, media and entertainment companies. Today, the group consists of five business areas: Online Gaming, Game Development, Online Marketing, Game Technology and Restaurant Casino.

Bridgepoint is a leading pan-European private equity firm with a 30-year track record of investing in growth businesses. Independently owned and managed by a team of more than 100 investment professionals, it has offices in the UK, France, Germany, Spain, Poland, Turkey, the Netherlands and Sweden, as well as portfolio of support offices in Shanghai, New York and San Francisco.

The White & Case team which advised on the transaction was led by partners Rikard Stenberg (Picture) and Jan Jensen (both Stockholm), and included partners Martin Forbes (London), Johan Thiman and Oscar Liljeson (both Stockholm), counsels Peter Svanqvist (Stockholm) and Sophie Sahlin (London), and associates Viktor Leisnert, Gustaf Wiklund, Emma Josberg, Björn Torsteinsrud, Patrik Erblad, Jonas Brandt, Alexander Berlin-Jarhamn, Anders Westling, Christoffer Nilmén, (all Stockholm), Nicola Chapman, Benjamin Morrison and Rebecca Yourstone (all London).

Involved fees earner: Alexander Berlin-Jarhamn – White & Case; Jonas Brandt – White & Case; Nicola Chapman – White & Case; Patrik Erblad – White & Case; Martin Forbes – White & Case; Jan Jensen – White & Case; Emma Josberg – White & Case; Viktor Leisnert – White & Case; Oscar Liljeson – White & Case; Benjamin Morrison – White & Case; Sophie Sahlin – White & Case; Rikard Stenberg – White & Case; Peter Svanqvist – White & Case; Johan Thiman – White & Case; Björn Torsteinsrud – White & Case; Anders Westling – White & Case; Gustaf Wiklund – White & Case;

Law Firms: White & Case;

Clients: European Entertainment Intressenter BidCo AB ;