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New beginning for Sazka as sale tender completed

28th September 2011 9:59 am GMT

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 [...]

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