New York-listed private equity fund Apollo Management IX has entered into two separate agreements to acquire a 49.7 per cent stake in Italian betting and gaming operator Gamenet Group for €182.5m.

Gamma Bidco, a company formed on behalf of funds managed by Apollo Management IX, has agreed share purchase deals with the two largest shareholders of Gamenet, TCP Lux Eurinvest and Intralot Italian Investments.

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