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OPAPs 33% transfer to Emma Delta to take place on October 11th

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The transfer of 33% of OPAP to Emma Delta fund is expected to take place on October 11th. 

The same day there will also be changes in OPAP’s board of directors, while the priorities of the new management team, under the 51year old Kamil Zeigler, have already been set. Kamil Zeigler who has served as Director of Finance at PPF Group, will be surrounded by close associates of his. 

On 12 August 2013, the Emma Delta equity fund clinched a deal with Hellenic Republic Asset Development Fund S.A (TAIPED), the Greek privatisation agency for the purchase of a 33% stake in OPAP at a cost of EUR 652 million.

Last week Emma Delta placed EUR 400 million of senior secured notes to partially finance the acquisition of a stake in OPAP. The placement was made through Emma Delta’s subsidiary Emma Delta Finance plc. The notes will be used in combination with the EUR 272 million already provided by individual investors to Emma Delta to fund the purchase of a 33.0% stake in OPAP.

Commenting on the successful placement, Mr. Jiří Šmejc, Emma Delta’s controlling shareholder had said “We are delighted that the placement has gone through swiftly and smoothly and look forward to opening a new chapter in the history of OPAP.”

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