Transaction|March 25, 2010
Ontario Teachers' Pension Plan to acquire Camelot Group plc
Torys acted as counsel to Ontario Teachers' Pension Plan Board on regulatory, structuring and governance related matters in this acquisition. The Torys team included Stephen Donovan, John Cameron, Matthew Atkey and Wilfred Estey.
On March 25, 2010, The Ontario Teachers' Pension Plan (Teachers') announced that it has agreed to acquire Camelot Group plc, which has an exclusive licence to operate the UK National Lottery, for an estimated consideration of £389 million.
Teachers' will acquire the shares from Camelot's five shareholders: Cadbury Holdings Ltd., De La Rue Holdings plc, Fujitsu Services Ltd., Royal Mail Enterprises Ltd. and Thales Electronics plc. Completion of the transaction is conditional upon approval from Camelot's regulator, the National Lottery Commission.
Further information is found here.