OPAP to complete Stoiximan Group acquisition

The Greek markets & competition authority cleared OPAP acquisition of a majority stake in bookmaker Stoiximan Group for €95 million.

Greece.- HCC, the markets & competition authority in Greece, has approved a major deal in the country. Greek market leader OPAP has acquired a 51% stake in online bookmaker Stoiximan Group, a deal soon to be completed.

The company will pay €95 million for the majority stake, as it offered early this year. Once done, subsidiary ‘OPAP Investments’, will co-share ownership of Stoiximan with enterprise investors TCB Holdings and maintain the stake.

Sazka Group’s involvement

Sazka Group has acquired 23 million shares of OPAP through a tender procedure completed on October 29. The shares represent approximately 7.25% of OPAP’s total paid-up share capital and increase Sazka’s total to 40.2%. The Czech company bought the shares for €9.12, which raises the total to €212.7 million.

After the transfer of the shares is complete, Sazka will hold, directly or indirectly, approximately 39.9% of OPAP. “Upon completion of the OTC Offer, the offeror will hold, directly or indirectly, a total of 128,593,179 shares, representing approximately 39.98% (of the total paid-up share capital of the Company, including of the Company’s own shares) or approximately 40.21% (of the Company’s paid-up share capital, excluding the Company’s own shares) of the paid-up share capital and voting rights Company,” said a statement from the company.