Porta Finance advises shareholders of 11.lv on sale of the Latvian gaming operator to MRG

23 May, 2018

Porta Finance acted as an exclusive financial adviser to the shareholders of Latvian gaming operator 11.lv (“Company”) in connection with the sale of 75% of the shares of the Company to MRG, Nasdaq Stockholm listed iGaming group with presence in 12 markets.

11.lv is a fast growing online sportsbook and casino operator in Latvia with 40%+ yoy growth. Acquisition of 11.lv is a part of MRG strategy to establish operations in the Baltics. As a result of the transaction two of the founders of 11.lv will retain 25% stake in the Company and will continue to be involved in management of 11.lv.

Porta Finance advised the shareholders of 11.lv on all of the aspects of the transaction, including designing the sell-side process, contacting investors, coordinating due diligence, preparing valuation analysis, assessing strategic and tactical alternatives and negotiating transaction documentation.

Further information:
Mikus Janvars
Partner, Porta Finance
Tel: +371 6733 6730