Ontario Teachers’ agrees to sell majority stake in Premier Lotteries Ireland

• Ontario Teachers’ invested in PLI in 2014
• Ontario Teachers’ is a global investor based in Toronto
• FDJ is a lottery and online gaming operator based in Paris, France

UPDATED. Ontario Teachers’ Pension Plan Board has signed a definitive agreement to sell its majority stake in Premier Lotteries Ireland (PLI), the operator of the Irish National Lottery, to La Française des Jeux (FDJ).

FDJ will acquire the entire share capital of PLI for an enterprise value of €350 million.

PLI is headquartered in Dublin, Ireland.

Ontario Teachers’ invested in PLI in 2014.

“As long-term investors, we aim to build stronger companies that create value for the communities they serve and PLI has generated record levels of sales and contributions to Good Causes,” said Iñaki Echave, senior MD at Ontario Teachers’.

The transaction is subject to regulatory approval and is expected to be completed in the second half of 2023.

Ontario Teachers’ is a global investor with net assets of $247.2 billion as of 31 December 2022. The firm is based in Toronto with offices in Hong Kong, London, Mumbai, San Francisco, and Singapore.

FDJ is a lottery and online gaming operator based in Paris, France.

Editor’s note: This article was updated to include the enterprise value of the deal.