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Sazka Group, the Czech gaming and lottery giant, has put forward an offer of €2.06bn ($2.31bn) to acquire 67% of the shares in Greek gaming operator OPAP. Sazka already indirectly holds a 33% stake in OPAP via Emma Delta. The tender offer is priced at €9.12 per share. The offer also includes any new OPAP shares that may be issued as the result of a dividend reinvestment program.
“We are confident that thanks to our ongoing support and active engagement in the business we have helped to deliver significant value to all the shareholders of OPAP. Since May 1, 2013, the day of the announcement of the privatisation of OPAP, OPAP shareholders have enjoyed a total shareholder return of over 130% including over €1.4 billion of aggregate dividends paid,” Sazka chairman, Karel Komárek said.
“We are now seeking to increase our shareholding in OPAP and want to give existing shareholders an opportunity to realise value accumulated over the years,” Karel Komárek added.
“OPAP announces that it has received the tender offer by Sazka Group. In accordance with the Greek Takeover Law, OPAP shall appoint a financial advisor and the board of directors of OPAP shall evaluate the tender offer and shall issue its opinion following the approval of the information memorandum by the HCMC,” OPAP stated.
Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Sazka to Acquire All Shares in OPAP
