Sorainen advised Stockholm-listed gaming operator MRG with presence in twelve markets, who will expand its Mr Green brand also into the regulated Latvian iGaming market following the acquisition of a majority stake in locally licensed operator 11.lv.
MRG will acquire a 75 per cent stake in the sportsbook-focused operator, which is one of the largest in Latvia and holds licences for betting, casino and live casino.
According to Per Norman, CEO of MRG, the acquisition of 11.lv is a major step in MRG strategy to expand into locally regulated markets. MRG foresees excellent growth opportunities for their strong Mr Green and Redbet brands also in the Baltics.
Sorainen advised MRG throughout the entire transaction, including legal due diligence of the target, and drafting and negotiating the share purchase agreement and other transaction documents. The client was advised by country managing partner Eva Berlaus and associate Lîva Aleksejeva.