Emma Delta Ltd, the partnership of Jiri Smejc and Dimitris Melissanidis has until Wednesday to submit a new offer for the 33% share of OPAP. TAIPED’s board of directors will convene tomorrow at 2pm to discuss the offer.
The original offer was 622 million euros, however TAIPED had set a minimum 650 million euro, based upon the evaluation of the independent Duff & Phelps financial services agency. Emma Delta will have to therefore increase their offer by at least 28 million euros, with market estimations suggesting the improved offer will be in the range of 660 to 670 million euros.
Emma Delta is the only potential investor for OPAP. The Czech invest Jiri Smejc is expected to visit Athens today in order to discuss the competition with the management of the privatization fund.