Ashurst advised Gala Coral, one of Europe's largest betting and gaming groups, on its £2.3 billion merger with Ladbrokes, to create a combined entity with, what is expected to be, the UK's largest LBO estate with a strong online presence.  The recommended merger comprises Ladbrokes and certain businesses of Gala Coral, including Coral Retail, Eurobet Retail and Gala Coral's Online businesses.  The combined entity will be named Ladbrokes Coral plc.

The merger is conditional on the approval of Ladbrokes shareholders, and certain anti-trust clearances.

The Ashurst team was led by Global Co-head of corporate Simon Beddow, together with corporate partners Dominic Ross and Jonathan Parry, senior associate James Fletcher, associates Harry Thimont, Tanja Maley and Louise Chan.

The Ashurst London finance team advising Gala Coral was led by finance partner Helen Burton, assisted by senior associate David Shell and associate Simin Kiani-Lirharani.  Ashurst London tax partner Alex Cox provided tax advice on the transaction.  Partner Marcus Fink and senior associate Andy Wright provided pensions advice, Stephen Diosi provided incentives advice and Dominic Boon advised on the employment aspects of the transaction.  Associate Caroline Hogan provided intellectual property advice.

Commenting on the deal, Simon Beddow said, "It is a pleasure to act for our longstanding client Gala Coral on this significant deal in the gaming sector. The various legal teams have worked together well to overcome the challenges thrown up along the way and demonstrated once again how the lawyers in the City of London help it to maintain its pre-eminence as a place for undertaking large, complex and innovative deals."