Wallace acts for Enic Gaming in £96mn BSkyB deal

January 2007

Wallace has acted for Enic Gaming in a settlement with 365 Media Group, the online sports and gaming group valued at £96 million in the offer made for the company by BSkyB on 15 December 2006.

Enic, 29.8% owner of Tottenham Hotspur FC, is receiving £8.3 million on the sale of its shares in 365 Media, including the additional shares issued to it under the settlement.

The settlement, which was agreed prior to the announcement of the 365 Media acquisition, follows disputes that arose relating to the level of turnover achieved since 365 Media acquired its subsidiary, ukbetting.com from Enic in 2001. Wallace also advised Enic in 2001 on the share sale agreement relating to the ukbetting.com acquisition.

John Woodhouse was Wallace’s lead partner on the deal. SJ Berwin advised 365 Media Group. Herbert Smith acted for BSkyB.

Read the full announcement on the London Stock Exchange website:

http://www.londonstockexchange.com/LSECWS/IFSPages/MarketNewsPopup.aspx?id=1364265&source=RNS

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Note to editors
Wallace has acted for the Enic group of companies for many years. Most recently, Wallace advised Enic on reducing its majority shareholding in Slavia Prague to a minority interest (April 2006) and the firm acted for Enic Sports Ltd on the sale of Italian football club Vicenza Calcio (2005).