Hellenic Football Prognostics Organisation S.A. (“OPAP”) was established in 1958 as a private legal entity and was converted into a Societe Anonyme in 1999.
OPAP relies on a 20-year concession contract signed on December 15, 2000 (the “OPAP Agreement”), pursuant to which the Hellenic Republic granted the company the exclusive right to operate and manage 11 numerical lottery and sports betting games in Greece. OPAP is listed in the Athens Exchange since 2001 and the Hellenic Republic (“HR”) holds 34% of its share capital. The HR has decided to further privatise OPAP by selling up to its total stake on the company. In the context of such sale, the HR transferred 29% of its stake to the HRADF, plus the right to extend the duration of the agreement of 15.12.2000 between the HR and OPAP. The negotiations that followed concluded to an extension of the OPAP Agreement for 10 additional years until 2030. Moreover, OPAP was granted the exclusive license for the operation of 35,000 VLTs, of which 16,500 will be operated by OPAP itself, while the remaining 18,500 will be operated by concessionaires that will be selected for that purpose.
The HR has appointed National Bank of Greece and Deutsche Bank to act as financial advisors and Karatza Law firm and Freshfields to act as its legal advisor for the privatisation.
For more information you can visit Hellenic Football Prognostics Organisation website at http://www.opap.gr