Banijay Group to acquire majority stake in Tipico and combine Betclic and Tipico under Banijay Gaming

Hengeler Mueller, together with Darrois Villey Maillot Brochier, Hambach & Hambach and Rapani, advised Banijay Group on its binding agreement to combine the Betclic and Tipico groups under a new unit, Banijay Gaming. Banijay Group has signed a binding agreement with CVC and the founders of Tipico to combine Betclic and Tipico within Banijay Gaming. Under the deal, Banijay will become the majority shareholder of the combined entity, aiming to create a European champion in sports betting and online gaming. Banijay will acquire CVC’s major stake in Tipico in cash. All shareholders of Betclic and Tipico, including their respective founders, will become shareholders of the combined entity. The parties have agreed enterprise values of €4.8 billion for the Betclic group and €4.6 billion for the Tipico group. Tipico’s founders will roll over 100% of their shares, and CVC will roll over its remaining stake into Banijay Gaming. The founders of both Betclic and Tipico will remain long-term shareholders alongside Banijay Group. Completion of the transaction is expected in mid-2026, subject to customary conditions precedent, in particular merger control and gambling regulatory approvals. Hengeler Mueller represented Banijay Group with a team composed by: Regulatory: Susanne Koch (counsel, lead) and Dirk Uwer (partner, both Düsseldorf). Corporate/M&A: Ingo Berner (Berlin, lead) and Oda Christiane Goetzke (Düsseldorf, both partner), Hermann Dahlitz (senior associate, Berlin), Emre Aksoy (associate, Berlin), Elmar Willemsen (associate, Berlin) and Tim Jaeger (associate, Düsseldorf). Antitrust: Sebastian Dworschak (partner) and Anja Balitzki (counsel, both Düsseldorf), Viola Pless (associate, Munich). Tax: Gunther Wagner (partner, Munich) and Jan Adami (senior associate, Frankfurt). Banking regulatory: Christian Schmies (partner) and Jan Letto Steffen (counsel, both Frankfurt).

Banijay Group to acquire majority stake in Tipico and combine Betclic and Tipico under Banijay Gaming

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