Two binding bids for OPAP

Greek privatisation agency, the Hellenic Republic Asset Development Fund (HRADF), reports receipt of two final binding bids for the acquisition of a 33 percent shareholding in the Hellenic Football Prognostics Organisation S.A. (OPAP).

The two bidders were named as Emma Delta and Third Point.  Emma Delta Ltd is a fund advised by Emma Delta Management Ltd which is beneficially owned by Czech investor Jiri Smejc (66,7 percent) and Greek shipping tycoon George Melisanidis (33,3 percent), while Third Point LLC is a New York-based hedge fund founded by Daniel Loeb.

The validity of the offers, taking into account recommendations from its financial and legal advisors, will be decided on by the HRADF’s Board of Directors at its next meeting.  The Board of Directors will unseal the financial offers of the qualified candidates and announce the outcome of the tender at that same meeting.  A date for the meeting has not yet been announced.

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