Novomatic Purchases Majority Stake in Österreichischen Lotterien

Austrian Investment firm B & C Industrie Holding made a statement saying it has sold its BAIHsubsidiary stake in the partial Austrian state owned Österreichischen Lotterien (ÖLG) to Novomatic.

The sale price remains private; however the sale is surprising due to stringent pre-emption rights. The majority of Österreichischen Lotterien is owned by Casinos Austria GmbH in addition to a number of banks including Erste Group, Volksbanken, Bankhaus Schelhammer and most recently, Novomatic.

According to a company spokesperson, 'B & C has found the best possible buyer for ÖLG. The OLG and its associated companies can benefit greatly from the expertise of Novomatic.'

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