French company La Française des Jeux, known as FDJ is to buy the operator of the National Lottery, Premier Lotteries Ireland (PLI) for €350m.
As part of the agreement, FDJ, which is the operator of the French National Lottery, will purchase the shares from Ontario Teachers’ Pension Plan, An Post, and An Post Pension Fund.
PLI was awarded a 20 year contract to operate the National Lottery by the Irish Government back in 2014.
It will continue to operate the National Lottery until 2034, and the purchase will not alter this arrangement.
The Irish National Lottery will continue to be owned by the Irish state, and regulated by the Regulator of the National Lottery.
“PLI has moved from strength to strength since winning the licence for the Irish National Lottery,” said Vivienne Jupp, Chair of PLI.
“I would like to thank Ontario Teachers’ and An Post for their support in building PLI into a leading European operator in the period since 2014.
“During that time, the team at PLI has delivered for Good Causes and the community and looks forward to the next chapter of growth, where we will be able to share best practices with FDJ and continue to operate a responsible world-class lottery for the people of Ireland,” she added.
Ontario Teachers’ Pension Plan, which is the majority shareholder of PLI said it believes FDJ is well positioned to help PLI going forward.
“We’re honoured to have partnered with An Post and the PLI team over the last nine years to create an even better lottery for Ireland,” said Iñaki Echave, Senior Managing Director at Ontario Teachers’ Pension Plan.
An Post also welcomed the sale.
“It’s a positive outcome for Ireland and for the National Lottery that FDJ, a long-established operator of the French lottery has been successful in its bid,” said An Post CEO and National Lottery Director, David McRedmond.
“FDJ’s industry expertise will be hugely beneficial to the future operation, and strengthens Ireland’s ties to its nearest EU neighbour,” he added.
The sale of PLI to FDJ is for 100% of the share capital, and is subject to regulatory approvals.
