Cedric Van den Borren, Will Taylor, Luca Meneghini, Louis Noirault, Evgeny Zborovsky, Kalish Mullen, Matias Versavel, Nadine Gelli, Louise Chappey, Josh Westerholm
February 23, 2026
Kirkland Advises Banijay Group and Betclic on €1 Billion Senior Secured Notes Offering as Part of Betclic’s Combination with Tipico

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- • Kirkland & Ellis advised Banijay Group and Betclic on Betclic's €1 billion senior secured notes offering as part of €3.1 billion financing. • The financing supports Betclic's acquisition of a majority stake in Tipico, a sports betting and online gaming operator in Germany and Austria. • Proceeds from the notes offering will be held in a segregated bank account controlled by the bond issuer until the acquisition closes. • The acquisition is expected to close in mid-2026, subject to customary closing conditions and regulatory approvals.
Kirkland & Ellis advised Banijay Group (AMS: BNJ) and Betclic, the leading online sports betting and gaming operator in France, in connection with its offering of €1 billion in aggregate principal amount of senior secured notes as part of the €3.1 billion financing for its combination with Tipico, a sports betting and online gaming operator in Germany and Austria. Pending consummation of the acquisition, the proceeds from the offering of the notes will be held in a segregated bank account controlled by the bond issuer. Betclic signed a definitive agreement to acquire a majority stake in Tipico, and the acquisition is expected to close in mid-2026, subject to customary closing conditions and gambling regulatory approvals. The transaction is expected to position Betclic as one of Europe’s leading sports betting and gaming players, with Banijay Group’s revenue exceeding €6.4 billion and adjusted EBITDA of approximately €1.4 billion as a result thereof. The Kirkland team included capital markets lawyers Cedric Van den Borren, Will Taylor, Luca Meneghini and Louis Noirault; debt finance lawyers Evgeny Zborovsky, Kalish Mullen and Matias Versavel; tax lawyers Nadine Gelli and Louise Chappey; and investment funds lawyer Josh Westerholm.
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Cedric Van den Borren, Will Taylor, Luca Meneghini, Louis Noirault, Evgeny Zborovsky, Kalish Mullen, Matias Versavel, Nadine Gelli, Louise Chappey, Josh Westerholm
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