Milbank advises Allwyn International AG on $17.6 billion acquisition of OPAP S.A.

Allwyn is the acquirer-side group in a combination that will pair it with OPAP to create the second-largest listed gaming entertainment company globally, with positions across Europe, the United States and other international markets. KKCG has been Allwyn's controlling shareholder and first invested in OPAP in 2013.
The deal is an all-share business combination approved by both boards, structured under a transaction agreement and valuing the combined company at an equity value of EUR 16 billion. The resulting entity will be renamed Allwyn.
After closing, the combined company is to stay listed on the Athens Stock Exchange's Main Market and is expected to rank among the exchange's largest companies by market capitalisation. Allwyn also plans to seek an additional listing on another major international exchange, such as London or New York, after completion.

Allwyn is the acquirer-side group in a combination that will pair it with OPAP to create the second-largest listed gaming entertainment company globally, with positions across Europe, the United States and other international markets. KKCG has been Allwyn's controlling shareholder and first invested in OPAP in 2013.
The deal is an all-share business combination approved by both boards, structured under a transaction agreement and valuing the combined company at an equity value of EUR 16 billion. The resulting entity will be renamed Allwyn.
After closing, the combined company is to stay listed on the Athens Stock Exchange's Main Market and is expected to rank among the exchange's largest companies by market capitalisation. Allwyn also plans to seek an additional listing on another major international exchange, such as London or New York, after completion.

Deal Overview