OPAP to Acquire Intralot’s Stake in Hellenic Lotteries

OPAP, the Greek company organising and conducting games of chance, has signed binding Memorandum of Understanding (MoU) to acquire Intralot’s stake in Hellenic Lotteries for €20m ($22.3m). The deal will see OPAP take ownership of Intralot’s 511,500 shares in Hellenic Lotteries, representing 16.5% of the total share capital.

The MoU comes after it was revealed earlier this month that the Sazka Group has itself put forward an offer of €2.06bn to acquire OPAP. Sazka would acquire 67% of the shares in OPAP, which, together with its current 33% stake in the operator, would grant it full ownership.

As part of the agreement with OPAP, Hellenic Lotteries will amend its existing services provision arrangement with Intralot. OPAP did not disclose how the deal will be amended, but did confirm that the terms and conditions will be renegotiated.