(Jamma) Following the request presented on April 17 by the Hellenic Republic Asset Development Fund (HRADF), the body responsible for managing the privatizations of Greek public assets, the fund controlled by the Czech entrepreneur Jiri Smejc and the Greek shipowner Giorgos Melisanidis EMMA DELTA presented its best economic offer yesterday, adding to the initial offer of 622 million euros another 30 million (payable in installments), for the acquisition of 33% of OPAP's capital. Therefore, EMMA DELTA's financial offer amounts to €652.000.000.
The total consideration is €712.000.000 and includes the amount offered by EMMA DELTA and the dividend for the 2012 financial year of €60.000.000 which corresponds to HRADF's share in the OPAP.
It should be noted that, in the event that OPAP had not been privatized, the Hellenic Republic would only receive a dividend of 13 million (for the 2013 financial year), while the value of the dividends for the next decade has been estimated to be equal to €360.000.000 i.e. only about 50% of the amount offered for the sale of OPAP's 33% stake.
It should also be remembered that starting from 2013, the Hellenic Republic introduced an additional tax of 30% on gross gaming revenues (GGR), equal to approximately 6,3 billion for the next decade.
The completion of the transaction is subject to prior verification by the Court of Auditors and approval by the competent authorities.
The Italian Lottomatica announced that it has reached an agreement to acquire a minority stake in one of Emma Delta's funds that won the tender for the privatization of 33% of Opap.
The company did not specify the size of the stake that Lottomatic wants to acquire, but said that «it is a strategic investment through which Lottomatica Group, as an industrial partner, wants to make its contribution in terms of know-how and experience gained at an international level in the field of technologies, management and the launch of new products».
