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GD RT         Turnover  mln.

OPAP: Management presentations to investors starting today

As part of the privatization process, OPAP’s mgt will present to the potential bidders the company’s future prospects. According to Capitals sources the presentations will start today (to Intralot) and several others will follow in the coming days.

Third Point and TPG have informed that they will not participate in this stage, and according to the press are likely to abstain from submitting binding bids. Interested parties are invited to confirm by 11th March the final composition of any consortia they may form and their intention to submit binding bids. The deadline for the latter is on 5th April, as well known.

The privatization agreement may include an earn-out clause (introducing some sort of contingency of the price upon a future goal) which the article suggests may have been a reason deterring Third Point and TPG from participating in the final stage of the process.
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