Home Knowledge William Fry advises Ontario Teachers’ on its sale of Premier Lotteries Ireland

William Fry advises Ontario Teachers' on its sale of Premier Lotteries Ireland

William Fry is delighted to be acting as Irish counsel to Ontario Teachers’ on this significant transaction alongside lead counsel, Freshfields Bruckhaus Deringer.

Ontario Teachers’ Pension Plan (Ontario Teachers’) has reached an agreement to sell its majority shareholding in Premier Lotteries Ireland DAC, the operator of the Irish National Lottery, to La Française des Jeux (FDJ), the operator of France’s national lottery games. As part of the transaction, PLI’s other shareholders, An Post and the An Post Pension Fund, will also sell their minority shareholdings to FDJ.

PLI is the operator of the Irish National Lottery having been awarded a 20-year licence by the Irish Government in November 2014. PLI’s core purpose is to operate a responsible world-class lottery for the people of Ireland, raising much needed funding for Good Causes for the benefit of local communities throughout the country. Since being awarded the licence to operate the Irish National Lottery, PLI has brought the game to its strongest-ever position and, in turn, raised over €1.9bn for Good Causes, with 2021 and 2022 being the most successful years in that regard.

The transaction is subject to certain closing conditions, including approval by the Irish Regulator of the National Lottery.

The William Fry team is being led by partners Ian Murray and Barbara Kenny assisted by a corporate team which includes senior associate Gavin White and associate Toby Boyd, with partner Claire Waterson advising on regulatory matters.