BUSINESS

Czech KKCG Group raises share in Greece's OPAP

Czech KKCG Group said on Wednesday it has raised its share in Greek lottery company OPAP.

KKCG said it acquired an additional 22.35 percent stake in investment fund Emma Delta from ICT Holding, substantially controlled by Russian entrepreneur Alexander Nesis.

Once the transaction is completed KKCG will hold 44.7 percent in Emma Delta.

The Czech company added that the transaction will increase KKCG’s indirect ownership of OPAP to almost 14.8 percent.

“Despite the volatile political situation in Greece, we remain confident that OPAP has strong value creation potential,” stated KKCG.

[Reuters]

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