EMMA DELTA completes acquisition of Greece’s OPAP Betting Group
- Emma Delta completes acquisition of the Greek State's 33% holding in OPAP
- Kamil Ziegler appointed Chairman & CEO
- New members appointed to the Board of Directors
LONDON 11 October 2013:
Emma Delta Ltd. ("Emma Delta"), the investment fund, announces today that it has completed its acquisition of a controlling shareholding in OPAP, the Greek betting group, from the Greek state.
Emma Delta has acquired the 33% stake in the Hellenic Football Prognostics Organisation S.A. ("OPAP") from the Hellenic Republic Asset Development Fund (“HRADF") for a total consideration of €652 million.
Commenting on the completion of the transaction, Mr. Jiří Šmejc, an Emma Delta shareholder, said: “We are delighted that we can now begin what we set out to do: building a stronger and more innovative OPAP. We are committed to the long-term growth of the Group, which we will pursue by creating value throughout the enterprise and making OPAP more cost-efficient. The company will be managed by an experienced team of industry and financial experts from Greece and abroad."
Emma Delta also announces the appointment of Kamil Ziegler as Chairman and Chief Executive Officer of OPAP, and of Michal Houst as Executive Board Member, following a meeting of the Board of Directors of the Group in Athens.
Ten members of the Board of Directors have resigned and have been replaced by newly elected and appointed Members.
- Emma Delta completes acquisition of the Greek State's 33% holding in OPAP
- Kamil Ziegler appointed Chairman & CEO
- New members appointed to the Board of Directors
- Emma Delta completes acquisition of the Greek State's 33% holding in OPAP
- Kamil Ziegler appointed Chairman & CEO
- New members appointed to the Board of Directors
- Emma Delta completes acquisition of the Greek State's 33% holding in OPAP
- Kamil Ziegler appointed Chairman & CEO
- New members appointed to the Board of Directors
- New members appointed to the Board of Directors
Kamil Ziegler, the new Chairman and Chief Executive Officer of OPAP, is a Czech national who has a successful track record in the gaming industry, having served as the CEO of Sazka, the Czech Republic’s national lottery organisation owned by KKCG Investment Group. He has also served as Chairman and CEO of the state-owned bank Konsolidacní Banka and of Raiffeisenbank Praha. Mr Ziegler has also been an Executive Finance Director at PPF Group.
“We are extremely excited to be taking on the great responsibility of managing such a significant asset in Greece,” Mr Ziegler said. “During a time of transition for the domestic economy, we are committed to investing in the company and in Greece over the long term.”
Michal Houst, also a Czech national, is appointed Executive Board Member of OPAP and will oversee the financial department of the Group. He is currently Investment Director at Emma Capital and was instrumental in driving and negotiating the OPAP acquisition process. He has considerable experience in successful restructuring projects at Nomos Bank in Russia and has worked as a banking and financial analyst at PPF in the Czech Republic and Russia.
Note to Editors:
The investment fund Emma Delta is a private international collective investment scheme established under the laws of Cyprus. The controlling shareholders of Emma Delta are Mr. Jiří Šmejc and Mr. Georgios Melisanidis. Investors in Emma Delta are comprised of: MEF Holdings Limited (representing the investor Mr. Jiří Šmejc), Yeonama Holdings Co. Limited (representing the investor Mr. Georgios Melissanidis), Rubidium Holdings Limited (representing the Financial Group KKCG), Vitalpeak Limited (representing the Financial Group ICT), Helixor Ltd (representing the Financial Group J&T) and Helvason Limited (representing the investor Mr. Christos Copelouzos).
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