Apollo Management IX LP entered into a share purchase agreement to acquire 28.67% stake in Gamenet Group S.p.A. (BIT:GAME) from TCP Lux Eurinvest Sàrl for approximately €110 million on October 22, 2019. In a related transaction, Apollo Management IX LP signed a share purchase agreement to acquire 20% stake in Gamenet Group S.p.A. from Intralot Italian Investments B.V. for €75 million and will launch a mandatory tender offer for the remaining stake in Gamenet Group. Under the terms of the acquisition, Apollo will acquire 8.6 million shares in Gamenet Group for a consideration of €12.5 per share minus any distribution of dividend, any other capital distributions or any other similar payment or distribution to TCP Lux Eurinvest S.à r.l. and/or Intralot, and their related parties (leakage) which occurs from July 1, 2019 to the closing date. Upon completion of the transaction, Apollo Management will own 48.67% of the shares in Gamenet. Apollo Management will fund the transaction, through a combination of its own cash resources and a fully committed debt financing from international banks of primary standing. The transaction is subject to antitrust approval from the European Commission, Agenzia delle Dogane e dei Monopoli (ADM) clearances, clearance of the Italian gaming regulatory authority and completion of Intralot agreement. The transaction will be terminated if the conditions are not satisfied on or prior to April 22, 2020, which date can be extended by additional 60 calendar days should the antitrust and/or ADM authorities require an extension of the review period. The transaction is expected to close by the end of 2019. Paul, Weiss, Rifkind, Wharton & Garrison LLP and Latham & Watkins LLP acted as legal advisors to Apollo. White & Case LLP acted as legal advisor for TCP, PricewaterhouseCoopers LLP acted as tax and financial advisor to Apollo.