Peru
Cuatrecasas advises RRLL on 51% equity stake transfer to betting company BoyleSports
February 21, 2024
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SubscribeCuatrecasas has advised the shareholders of Peruvian sports betting company RRLL S.A.C. on transferring a 51% equity stake to BoyleSports (Gibraltar) Ltd., and also on entering into a security interest agreement over the RRLL shareholders’ securities.
The acquisition not only represents an opportunity to consolidate Timberazo—RRLL’s online betting brand—as the market leader able to compete on equal terms with the main players in the industry; it also opens doors at a regional level for BoyleSports, as this marks the company’s debut in the Latin American market.
The transaction is a milestone for the Peruvian online betting industry, as it brings together Timberazo’s experience and innovation with BoyleSport’s financial strength and international reputation. Both companies have shown their interest and confidence in the Peruvian market, which offers attractive growth opportunities. This strategic partnership will enable the two companies to draw on their complementary skills and resources, and explore new markets and products in the region.
Kiomi Osorio, lead counsel for this M&A transaction, said: “We are proud to have advised RRLL’s shareholders on this transaction, as it is a major step forward in developing Peru’s online betting market and reflects international investor confidence in the growth potential of this industry in the region. Our coordinated, multidisciplinary team has worked efficiently to provide a comprehensive and top-quality advisory service for our clients, and meet the challenges and complexities raised by this groundbreaking transaction in the Peruvian technology and online betting market.”
With the backing and support of BoyleSports—a renowned and experienced company in the global betting industry—Timberazo will be able to improve its operational efficiency, range of products and customer service, and reinforce its ambitious expansion plans for the region. This investment will also enable RRLL to migrate from its existing platform and operate satisfactorily in compliance with Peru’s new regulations on online sports betting.
Kiomi Osorio, Corporate and M&A partner at the Cuatrecasas Lima office, led the advisory services for this transaction, together with lawyers Manuel Cruz and Giorgio Balza (Tax); Rodrigo Pérez Devoto (Litigation); and with the support of Alonso Benavides and Vasco Mariátegui.
February 21, 2024
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