OPAP sale earns 712 mln for state

OPAP sale earns 712 mln for state

 

Emma Delta lands controlling stake in gaming monopoly after upping its bid by 30 million euros

By Vangelis Mandravelis

The Hellenic Republic Asset Development Fund (TAIPED) announced on Wednesday the sale of the state’s 33 percent controlling stake in OPAP to the Emma Delta consortium after receiving an improved offer totaling 712 million euros, marking the completion of Greece’s first major privatization project.

The price agreed is 30 million euros higher than the Czech-Greek consortium’s original offer, although it is 18 million short of what TAIPED had hoped to make from the sell-off.