Teddy Sagi Group makes public offer to acquire Best of the Best Plc

08:03 - 22 June 2023

Companies

Globe Invest Limited, the Cyprus registered and headquartered single-family office and investment holding company of Teddy Sagi, has announced a public cash offer to take over Best of the Best plc (BOTB), for £45.3m.

The move, which was announced on the London Stock Exchange (LSE), follows the successful completion of Teddy Sagi Group’s public offer for Kape Technologies Plc, valuing Kape at $1.6b.

The public offer for BOTB is expected to be successful given the irrevocable commitment expressed by certain shareholders to support it.

Eurobank Cyprus is financing the acquisition of BOTB with £33m, in line with the requirements of the UK’s City Code on Takeovers and Mergers.

Singer Capital Markets Advisory LLP and Bird & Bird LLP are acting, respectively, as Financial and Legal Advisors to Globe Invest Limited.

BOTB has been active in the field of skill-based competitions / games since it was founded in 1999, with over 1.8 million customers in the UK. BOTB shares have been listed for trading on London's AIM market since 2006.

Globe Invest Limited is Teddy Sagi's Family Office in Cyprus based in the privately owned Labs Tower in the centre of Nicosia. The negotiations and the execution of the transaction were led by the CEO of the Family Office, Marios Hadjiyiannakis, together with Chief Investment Officer Georgios Fereos and the Head of Legal, Antigoni Fakonti, supported by Carolina Xenopoulou, Natassa Kokkinotrimithioti, Petros Kyriacou in Cyprus and Pierre Lallia in London.

The takeover is expected to be completed by the end of September.

Teddy Sagi Group makes public offer to acquire Best of the Best Plc

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