Cyprus: Andreas Neocleous & Co LLC Advised And Assisted KKCG Group With Its Recent Acquisition Of An Additional Stake In The Lottery Operator OPAP
Last Updated: 24 April 2015

Andreas Neocleous & Co LLC advised and assisted KKCG Group with its recent acquisition of an additional 22.35% stake in the investment fund Emma Delta, which owns a 33% interest in the Greek lottery group OPAP. Following the completion of this transaction, KKCG will be the largest investor in Emma Delta, and will hold an effective stake of almost 14.8% in OPAP. 

KKCG is an international investment group with assets worth close to EUR 1.6 billion and more than 2,500 employees. The group's long-term investment strategies focus on crude oil and natural gas production, the lottery industry, tourism, and investments into new technologies. KKCG holds shares in more than 25 Czech and foreign corporations and operates in 10 countries worldwide.

Andreas Neocleous & Co LLC advised KKCG on the acquisition of its initial stake OPAP via its investment in Emma Delta in 2013. The sale of the 33 per cent stake in OPAP was the first of the privatisation deals required under the terms of Greece's international bailout. Emma Delta is a regulated variable equity fund, with individual and corporate investors from Cyprus, the Czech Republic, Greece and Russia.

OPAP enjoys a monopoly position in the Greek market and is the largest taxpayer in Greece. It has been expanding the scope of its activities, has undergone a successful financial restructuring, and is delivering growth.

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