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SGR represents Scientific Games in Latin American Acquisition
Smith, Gambrell & Russell, LLP represented Scientific Games International, Inc. in connection with its acquisition of a controlling interest in Serigrafica Chilena (now known as Scientific Games Latino America), the leading Latin American supplier of lottery tickets, prepaid phone cards, and promotional games.
The transaction was valued by Scientific Games at $8.3 million based on initial and potential purchase price payments. Scientific Games International, Inc. is a principal operating subsidiary of Scientific Games Corporation, the leading worldwide integrated supplier of instant tickets, systems, and services to lotteries, whose stock is listed on the New York Stock Exchange.
The transaction involved negotiation, in English and Spanish, of a stock purchase agreement, a stockholders’ agreement, and other ancillary documents, including a right to purchase the remaining minority interest. SGR has represented Scientific Games in other acquisitions of both U.S. and non-U.S. based companies.
The SGR team for this transaction included Tim Elder, and two of the firm’s Spanish speaking corporate attorneys and John Spillman. In keeping with the international scope of its practice, the Firm has handled a number of Latin American acquisitions, including tender offers, representing both U.S. and Latin American based clients. Among others, the Firm has represented the largest brewer and distributor of beverages in Latin America in connection with a tender offer and acquisition of the largest brewery in Panama. SGR currently represents several Latin American airlines. One of these, the largest airline in Colombia, is being represented in a precedent-setting bankruptcy reorganization proceeding currently pending in the U.S. bankruptcy court in New York.