KKCG has acquired an additional 22.35% stake in the investment fund Emma Delta, held through Vitalpeak Limited, from ICT Holding substantially controlled by Russian entrepreneur Alexander Nesis. Following the completion of this transaction, KKCG will be the largest investor in the investment fund Emma Delta with a holding of approximately 44.7%. The transaction will increase KKCG’s indirect ownership of the Greek lottery group OPAP to almost 14.8%.
"Increasing our stake in OPAP is a strategic move. KKCG Group has been making consistent efforts to build and strengthen our presence in the second pillar of our business: Entertainment & Technology. We began investing in this pillar three years ago when we acquired Sazka. We complemented this step with our initial investment in OPAP, a Greek lottery company operating in Greece and Cyprus. The excellent performance history of both companies is a validation of these investment decisions. Despite the volatile political situation in Greece, we remain confident that OPAP has strong value creation potential under the leadership of a seasoned international team, which includes a number of Czech managers. The company’s recently announced strong 2014 earnings further illustrates its potential," says Pavel Šaroch, CIO of KKCG Group.
”We are proud to have been a part of consortium of international investors who participated in the privatization announced by the Greek Government and successfully turned around the Company. ICT plans to reinvest the sales proceeds into our strategic assets,” stated Konstantin Yanakov, Member of the Board Directors of the ICT Holding.
OPAP has been expanding the scope of its activities, has undergone a successful financial restructuring, and is delivering growth - all of which suggests that it will continue to perform well in the future. OPAP enjoys a monopoly position in the Greek market and is the largest taxpayer in Greece. The interest in its services and products continues to grow.