Carey Olsen advises Abu Dhabi consortium E-Vision and ADQ on its majority stake acquisition in Starzplay Arabia
October, 2022 - Bermuda, Bermuda
E-Vision has the controlling stake in its consortium with ADQ and is set to pay up to $130 million in cash and in-kind, including earn out payments for the majority stake in Starzplay, which is valued at $420 million.
For its part, Starzplay controls 20% of the Middle Eastern and North African video streaming market and is the fastest growing streaming service in the region. Along with its parent company, Lionsgate, it will maintain commercial agreements for content licensing to the venture.
The Carey Olsen team advising the investing consortium was led by partner Alistair Russell and supported by senior associate Trevor McCabe. They advised alongside onshore counsel Linklaters LLP in Dubai.
Alistair said: "e& is the largest telecoms operator in the United Arab Emirates and this deal represents its commitment to expanding its entertainment segment through E-Vision. This latest investment has the potential to be market shaping and will certainly enhance Starzplay's position in the region."
Starzplay is set to use the investment to bolster its offering through obtaining the rights to high demand video content as well as producing its own original shows for the Middle East market.
