Greece's Intralot acquires 20.6 pct of Melco LottVentures for 27.4 mln euros

[Angelo]

Greece's Intralot acquires 20.6 pct of Melco LottVentures for 27.4 mln euros
09.29.08, 5:10 AM ET


ATHENS (Thomson Financial) - Greek betting technology company Intralot SA said that it will acquire through its wholly owned unit Intralot International a 20.6 percent stake in Hong Kong listed Melco LottVentures Limited (MLV) for 27.4 million euros.

Intralot said this investment is a strategic move to capitalize on opportunities presented by the Chinese and other Asian markets.

The Greek company and MLV intend to enter into additional discussions regarding a further increase of Intralots participation in MLV.

Following completion of the acquisition and on a fully diluted basis Melco International Development Limited and Intralot will become the two major shareholders in MLV, in which Firich Enterprises Co Ltd also holds a stake.

Melco will remain as the largest shareholder of MLV.

Intralot CEO Constantinos Antonopoulos, said: 'This significant acquisition and strategic cooperation further strengthens our considerable position in Asia, where we have presence in five Asia Pacific countries. We are confident that through this partnership, we will be successful in the highly promising Chinese market, one of our primary strategic goals in Asia Pacific'.



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