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Prague court approves sale of Sazka

6th October 2011 10:20 am GMT

Prague’s Municipal Court has dismissed a motion to annul the sale tender for Czech lottery operator Sazka, confirming the sale of the company to Sázková Kancelář a.s, a joint tender bid from the company’s main creditors PPF and KKCG.

Last week, insolvency administrator Josef Cupka confirmed the sale of Sazka to the highest bidder, Sázková Kancelář.

Czech bank Česká Spořitelna had called for the tender to be cancelled however, arguing that the sales contract between Sazka and [...]

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