Apollo Management IX LP signed a share purchase agreement to acquire 20% stake in Gamenet Group S.p.A. (BIT:GAME) from Intralot Italian Investments B.V. for €75 million on October 22, 2019. Under the terms, Apollo Management will acquire 6 million shares for €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. As of November 19, 2019, the offer price increased from €12.5 to €13 per share. In a related transaction, Apollo Management IX LP signed a share purchase agreement to acquire 28.67% stake in Gamenet Group S.p.A. (BIT:GAME) from TCP Lux Eurinvest S.à.r.l. and will launch a mandatory tender offer for the remaining stake in Gamenet Group. 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 TCP Lux agreement. As of November 15, 2019, Apollo Global filed for approval of European Commission. The provisional deadline for the approval is set as December 20, 2019. 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. European Commission approved the transaction on December 10, 2019. The transaction is expected to close by the end of 2019. Ramy J. Wahbeh of Paul, Weiss, Rifkind, Wharton & Garrison LLP and Marcello Bragliani, Stefano Sciolla, Antonio Coletti, Antongiulio Scialpi, Cesare Milani, Antonio Distefano, Giorgia Lugli and Stefania Cirillo of Latham & Watkins LLP acted as the legal advisors to Apollo. PricewaterhouseCoopers LLP acted as tax and financial advisor to Apollo. Roberto Donnini and Alessandro Pilarski of Caiazzo Donnini Pappalardo & Associati acted as legal advisors to Intralot. KPMG Advisory N.V. acted as financial advisor to Intralot Italian Investments B.V.