Adelaide-based commercial law firm Kelly & Co., in conjunction with the Crown Solicitor’s Office, has advised the South Australian Government on the $427 million sale of the right to operate SA Lotteries’ brand and products.
The $427 million is the highest valuation multiple ever achieved for a lotteries transaction in Australia.
The sale was to Tatts Group who has been appointed exclusive master agent with the right to use SA Lotteries’ brands for a period of 40 years. The agreement was signed on 26 November 2012 and will complete on 10 December 2012.
The cross-disciplinary Kelly & Co. team was led by Partner Jamie Restas with support from Lisa Jarrett and Kate McKeough (Corporate), Peter Campbell (Competition) and Luke Dale (IP).
Kelly & Co’s Chairman of Partners, Jamie Restas said: “We were extremely pleased to have the opportunity to once again work with the Crown Solicitor’s Office and the South Australian Government on this transaction.”
The Crown Solicitor’s Office team was led by Assistant Crown Solicitor Chris Gray
and Samuel Nelson.