Greek gambling group OPAP has announced that they've struck a deal to purchase Intralot's share in the Hellenic Lotteries for a consideration of €20 million.
The deal will see OPAP picking up 511,500 of Intralot's shares in the business, which will be worth 16.5%. It will put OPAP in control of 83.5% of the total shares of the company. The agreement will see Hellenic Lotteries also see the group amending their existing services provision with Intralot. The deal needs to go through regulatory and shareholder approval, but this is expected to be approved.
The purchase agreement comes after it was revealed that OPAP itself has been offered &europ;2.06 billion to be purchased by Czech gaming firm Sazka Group.
We're following the story and will keep readers posted as we learn more.