Estonia, EU – Baltic States, Investments, Markets and Companies

Odyssey Europe AS, a company of Novalpina Group, is announcing its intention to make a voluntary offer to acquire all shares of Olympic Entertainment Group AS for the purchase price of EUR 1.90 per share, representing a premium of 3.26 percent above the volume weighted average stock exchange price of the OEG shares during the last six months, OEG told the stock exchange on Monday.

Given that OEG has issued 151.8 million shares, the value of the offer is EUR 288.4 million.

The two majority shareholders, who hold approximately 64 percent of the shares combined, have already agreed with the bidder to accept the offer.

Following completion of the offer, the bidder intends to have the OEG Shares delisted from the Nasdaq Tallinn stock exchange.

OEG provides gaming services in six EU member states, which include the Baltic countries Estonia, Latvia and Lithuania, and Slovakia, Italy and Malta. The company was founded by Armin Karu and Jaan Korpusov in 1993.