Business Combination of Allwyn and OPAP

Allwyn International AG (Allwyn) and OPAP S.A. (OPAP) announced that their respective boards of directors have approved the business combination of Allwyn and OPAP through an all-share transaction that values the resulting entity at an equity value of EUR 16 billion. This will be facilitated by their entry into a transaction agreement. The Combined Company will be renamed Allwyn.

The Transaction marks a major milestone in the evolution of both companies. It will bring together two leading gaming operators, creating the second largest listed gaming entertainment company globally, with multiple diverse, fast-growing and market-leading positions across Europe, the United States and other international markets. 

Following the completion of the transaction, the combined company will remain listed on the Main Market of the Athens Stock Exchange, where it is expected to be one of the largest companies by market capitalization. Allwyn intends to pursue an additional listing on another leading international exchange such as London or in New York following closing.

Lenz & Staehelin is advising Allwyn in this transaction. The team is led by Tino Gaberthüel and includes Lukas Held, Yves Loher and Patrick Schleiffer (all M&A, Capital Markets).