Analysis: The eight OPAP bidders in detail
Sale of 33% stake is part of a raft of efforts to privatise state assets in order to raise 2.6bn to relieve EU member state's crippling national debt.
Eight companies from around the world have submitted an expression of interest in acquiring the Greek government’s 33% stake in gambling monopoly OPAP. But who are they? eGaming Review gives you the run-down on those competing for the opportunity to cash in on Greece’s lucrative gambling market.
BC Partners
Private equity firm BC Partners has been active in the European buy-out market for 25 years. According to its website, it principally invests in Europe, acquiring and developing European and multinational businesses. Since its formation in 1986, BC Partners has completed 79 acquisitions in companies with a total enterprise value of 74bn. Current investments include Phones 4U, estate agency Foxtons, and Turkey’s largest retail chain MiGROS.
Emma Delta Ltd
A fund advised by Emma Delta Management which is beneficially owned by Jiri Å mejc (66.7%) and George Melisanidis (33.3%). Å mejc is CEO of consumer finance company Home Credit Group and serves as head of asset management at PPF Group, one of the largest investment and finance groups in Central and Eastern Europe. Melisanidis is a Greek business magnate and founder and president of Aegean Marine Petroleum, the second largest oil company in Greece. He is a member of the Forbes list of the world’s 500 richest people.
Gauselmann AG, Playtech and Helvason consortium
Joint bid would see German gaming machine manufacturer Gauselmann invest 55%, gaming software giant Playtech invest 41% and Helvason invest 4%. Playtech’s consortium bid follows its JV with Gauselmann’s online subsidiary, Merkur Interactive, ahead of expected revisions to German gaming regulation.
Consortium of Intralot Holdings Luxemburg S.A. (34%) and Intralot Investments Ltd (66%)
Greek company Intralot supplies gaming, transaction processing systems, game content, sports betting management and interactive gaming services to state-licensed gaming organisations worldwide with a presence in 53 countries. Recent months have seen the company sign numerous deals to provide online services globally, with a joint venture deal to supply online games to the Mexican national lottery, and a deal to launch online and mobile fixed-odds sports betting sites in South Africa.
Primrose Treasure Limited
Primrose Treasure is a subsidiary of Fosun international, the Chinese business conglomerate with interests in asset management and investments, as well as industrial operations such as pharmaceuticals, property, steel, and mining. Fosun’s chairman and majority shareholder is billionaire entrepreneur Guo Guangchang, one of the wealthiest men in China who is often regarded as China’s version of Warren Buffett.
Third Point LLC
New York-based Third Point is a hedge fund founded by Daniel Loeb which manages around $9.3bn in assets. It has already made moves to cash in on Greece’s financial woes, investing heavily in distressed government bonds and banking on long-term improvements. Third Point also holds 5.8% of Yahoo! stock.
TPG Capital
TPG Capital is a US-headquartered private equity investment fund founded in 1992 with $51.5bn of capital under management. One of the world’s largest investment companies, it recently entered the bidding race for BAA-owned London Stansted airport, thought to be worth $1bn.
Triple Five World Group Properties Limited
Triple Five World Group is a multinational conglomerate and diverse development and finance corporation. According to recent reports the company has plans to invest heavily in Cyprus with plans, among others, to buy 500m of government bonds and establish its own bank in the country.