Sazka Group, controlled by Czech investor Karel Komarek, has submitted a voluntary public offer for OPAP shares not controlled by the group, the development that caused the gaming and lottery operator's management on Monday to request a suspension of trading on the Athens Stock Exchange (ATHEX).
The offer per share submitted by Sazka is 9.12 euros, as foreseen in contractual agreements that point to the median average share price over the previous six-month period.
An announcement sent to ATHEX, OPAP said Sazka Group has commenced the process for the public offering, while also notifying the Capital Market Commission.
The KKCG Group, which belongs to Komarek, controls 75 percent of Sazka Group, while holding 33.3 percent of voting rights in Emma Delta Management Ltd., with the remaining 33.3 percent held by Giorgiella Holdings Co. Ltd., run by Georgios Melissanidis.
Emma Delta Management Ltd. controls all of the voting rights in Emma Delta Variable Capital Investment Co. Ltd., which indirectly controls 33 percent of voting rights for OPAP.