NSW Treasurer Eric Roozendaal has announced the transfer of NSW Lotteries Corporation to Tatts Group Limited with Gilbert + Tobin as the principal legal adviser to the State.
A lead G+T partner, Bryan Pointon, said: “We are delighted to have been able to work with Treasury, OLGR, the Crown Solicitor and other advisors in this very successful transaction for New South Wales.”
The transaction to transfer NSW Lotteries Corporation to Tatts Group Limited and grant a new, 40 year exclusive licence to operate public lotteries in New South Wales will deliver taxpayers total proceeds of approximately $1.01 billion.
Gilbert + Tobin advised on all aspects of the transaction through the investigation and implementation stages, including transaction structuring, the design of the process, the transaction legislation and lotteries regulatory framework as well as drafting and negotiating the transaction and licence documentation.
This project follows Gilbert + Tobin advising the NSW Treasury on competition issues relating to the sales process for the NSW electricity sector.