Fosun bids for Greek gambling monopoly OPAP
Fosun has expressed interest in buying a 33% stake in Greek gambling monopoly Hellenic Football Prognostics Organization (OPAP), the country's privatization agency Hellenic Republic Asset Development Fund (HRADF) said on Saturday.
The seven other potential investors include private equity players TPG Capital and BC Partners, as well as Emma Delta, a fund advised by Emma Delta Management which is owned by Czech investor Jiri Smejc and Greek entrepreneur George Melisanidis. Estonia-based Playtech, a provider of online gaming software, also teamed up with German gaming equipment maker Gauselmann AG to plan a bid.
"We are satisfied by the response of the investment community, which has demonstrated its trust in the prospects of the country, despite the difficult economic situation," said HRADF's CEO Yannis Emiris in a statement.
OPAP is one of Europe's biggest-listed gambling companies with a market capitalization of EUR1.5 billion ($1.9 billion) on the Athens Stock Exchange. The company is an important part of the country's privatization programme for next year, when Greece plans to raise about EUR2.6 billion by divesting its state companies as part of its global bailout.
HRADF's advisors will examine all eight submissions and send their recommendations to the HRADF Board of Directors within the next few days, indicating which candidates meet the selection criteria for the next phase of the tender.
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