Slaughter and May advised Fastball Holdings LLC on the sale of its shareholding in FanDuel to Flutter
Slaughter and May advised Fastball Holdings LLC (“Fastball”) on the UK legal aspects of the sale of its 37.2% shareholding in FanDuel Group Parent LLC to TSE Holdings Limited, a wholly-owned subsidiary of Flutter Entertainment plc (“Flutter”). The total consideration upon closing will be USD$4.175 billion (£3.131 billion), which shall be satisfied by the payment of $2,087,500,000 and the issue of approximately 11.7 million new Flutter shares to Fastball.
The transaction constitutes a Class 2 and related party transaction for Flutter under the Listing Rules of the FCA, and is subject to Flutter shareholder approval and other closing conditions. The expectation is that the transaction will complete by the end of December 2020.
Slaughter and May worked alongside Wilson Sonsini Goodrich & Rosati (who advised on matters of US law) and Matheson (who advised on matters of Irish law).