Ashurst advised Gala Coral, one of Europe's largest betting and gaming groups, on the £241 million sale of its Gala Bingo retail division to Caledonia Investments. The deal includes Gala's 130 bingo clubs across the UK, with 1.1 million active members, representing 38% of the UK's retail bingo market. The sale is conditional upon approval from the Gambling Commission and the net proceeds will be applied in partial redemption of Gala Coral's 2018 Senior Secured Notes.

The Ashurst London team was led by Global Co-head of Corporate Simon Beddow, together with corporate partner Karen Davies, senior associate Audrius Skeivys and associates Kathleen Liu, Tanja Maley and Louise Chan.

The Ashurst finance team advising Gala Coral was led by partner Helen Burton, while tax advice was provided by partner Alex Cox, assisted by senior associate Philippa Michie. Senior associate Andy Wright provided pensions advice and James Almond advised on the employment aspects of the transaction. Partner Mark Lubbock provided intellectual property advice.