Stillfront Group’s $205 Million Acquisition of Jawaker

Stillfront Group's $205 Million Acquisition of Jawaker

In UK DLA Piper, Latham & Watkins, advised on the matter.

DLA Piper advised Stillfront Group AB with a team including Andrew Davies (Corporate M&A).

Latham & Watkins advised Jawaker with a team including Mike Turner (Tax M&A and Deal Advisory).

Stillfront Group AB (publ) has entered into an agreement to acquire 100 percent of the shares in Jawaker FZ LLC for a total upfront consideration of USD 205 million on a cash and debt free basis.

The purchase price is to be paid partly in cash and partly in new issued shares in Stillfront, which are listed on Nasdaq Stockholm. In addition, earn-out consideration may be paid for the coming five years.

Jawaker, a leading mobile gaming studio in the MENA region, founded in 2009, holds one of the largest classic PvP (Player versus Player) gaming apps in the world, with a focus on board & card games and other popular games specific to the region. Jawaker is headquartered in Abu Dhabi, the UAE. To finance a part of the transaction, Stillfront has raised additional equity through a directed share issue of SEK 1,000 million.

Stillfront is a leading free-to-play powerhouse of gaming studios.

DLA Piper’s team has consisted of lawyers from the offices in Sweden, the UAE and the UK. The transaction was led from Sweden by Peter Ihrfelt (Picture) and the Swedish team consisted of a large number of people, including Peder Grandinson, Anna Berntorp, Erik Brändt Öfverholm, Therese Pekkanen, Lisa Brink, Björn Torsteinsrud, Rebecca Fallberg and Philip Thorell. The UAE team consisted of Thérèse Abou-Zeid, Philippe Habib and Fawzi Zeini. The UK team consisted of Andrew Davies and Laura Marcelli.

The Latham team was led from Dubai by associate Omar Maayeh with counsel Eyad Latif and associate Stephanie Dang, and from London by partner Mike Turner with associate Katie Kaplucha. 

Involved fees earner: Thérèse Abou-Zeid – DLA Piper; Anna Berntorp – DLA Piper; Lisa Brink – DLA Piper; Andrew Davies – DLA Piper; Rebecca Fallberg – DLA Piper; Peder Grandinson – DLA Piper; Philippe Habib – DLA Piper; Peter Ihrfelt – DLA Piper; Laura Marcelli – DLA Piper; Erik Brändt Öfverholm – DLA Piper; Therese Pekkanen – DLA Piper; Philip Thorell – DLA Piper; Björn Torsteinsrud – DLA Piper; Stephanie Dang – Latham & Watkins; Katie Kaplucha – Latham & Watkins; Eyad Latif – Latham & Watkins; Omar Maayeh – Latham & Watkins; Mike Turner – Latham & Watkins;

Law Firms: DLA Piper; Latham & Watkins;

Clients: Jawaker; Stillfront Group AB;

Author: Giulia Di Palma

Leave a Reply

*