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Covington Advises Aristocrat in Acquisition of Plarium and Related Acquisition Financing

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  • Covington Advises Aristocrat in Acquisition of Plarium and Related Acquisition Financing

WASHINGTON—Covington, together with Israeli-based law firm Allens and Herzog Fox & Neeman, is representing Aristocrat Leisure Limited, a leading provider of gaming solutions, in its acquisition of Plarium Global Limited and the related acquisition financing. 

Aristocrat will make an upfront cash payment of $500 million plus earn-out payments based on Plarium’s post-closing financial performance. Plarium is an Israel-based free-to-play mobile, social, and web-based game developer. The transaction is expected to close by yearend, subject to receipt of necessary regulatory approvals and satisfaction of other customary closing conditions.

The Covington team included Kerry Burke and Rachel Beller (financing); Deb Garza, Miranda Cole, David Addis, and Wesley Lepla (antitrust and competition); Stephen Infante, Allison Schiffman, and Lauren Shor (corporate); Robert Hunziker (intellectual property), Peter Flanagan (international trade); James Garland and Peter Lichtenbaum (compliance); and William Woolston and Erika Skougard (employee benefits and executive compensation).

 

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