Insolvency administrator Josef Cupka has confirmed the sale of Czech lottery operator Sazka to Sázková Kancelář a.s, a joint tender bid from the company’s main creditors PPF and KKCG, with a winning offer of CZK3.81bn (€155.1m).

Last Friday was the final deadline for submitting binding offers to acquire Sazka, with three bidders taking part. Insolvency administrator Josef Cupka said that he decided to open the bid envelopes immediately in order to avoid any speculation about the handling of the tenders.

Premium subscribers continue here to the full article.