Tuesday June 9,2015 : NOVOMATIC ACQUIRES MINORTY STAKE IN Österreichischen Lotterien

Despite stringent pre-emption rights.

In a short statement, Austrian Investment firm B & C Industrie Holding said it had sold its BAIH subsidiary comprising a 7.94 percent minority stake in the part-Austrian state owned Osterreichischen Lotterien (ÖLG) to Novomatic for an undisclosed consideration.

The news comes as a surprise to many mainly because of stringent pre-emption rights.  Osterreichischen Lotterien is majority owned by Casinos Austria GmbH along with several banks including Erste Group, Volksbanken, Bankhaus Schelhammer and now Novomatic.

“B & C has found the best possible buyer for ÖLG. The OLG and its associated companies can benefit greatly from the expertise of Novomatic’” a company spokesperson said.