Ellex Raidla advises the sale of Olympic Entertainment Group AS to Odyssey Europe AS for 288.5 MEUR

Ellex Raidla team advises HansaAssets OÜ and Hendaya Invest OÜ on the sale of Olympic Entertainment Group to Odyssey Europe AS.
Odyssey Europe, a company belonging to the Novalpina Group, has announced its intention to make a takeover bid for the acquisition of shares of Olympic Entertainment Group AS at a price of 1.9 euros, which is 3.26% higher than the weighted average exchange price of the last six months for OEG shares.
The two majority shareholders of Olympic Entertainment Group AS, Armin Karu and Jaan Korpusov, have already accepted the offer.
Armin Karu commented in the press release that having started a small business in Estonia 25 years ago, he is proud that OEG has grown into such a large-scale enterprise with an exemplary business model and a strong position in six EU member states." The Novalpina Capital team has considerable experience with such investments that help companies expand their operations both geographically as well as digitally. Their vision is impressive and I am sure that they will become OEG's proud and business-driven owner. As the largest shareholder, I find the price offered fair and I encourage the shareholders to accept the offer," said Karu.
Madis Jääger, Chairman and CEO of OEG, also pointed out that over the years, Olympic has expanded its activities outside the home market in the Baltic States. "In the future, in the face of ever-increasing competition in online games, we need to increase our investments in the digital platform. We are confident that Novalpina Capital will be a good choice as a future owner to support these investments," he said.
After concluding the deal, the buyer intends to stop listing the shares of Olympic Entertainment Group AS on Nasdaq Tallinn Stock Exchange.
Novalpina Capital is a European private equity investment company, focusing on majority investments in medium-sized European companies. Before the establishment of the company in 2017, its founders were  top European investment executives in leading global investment companies.
The transaction is advised by Ellex Raidla entertainment lawyers Gerli Kilusk, Ermo Kosk and Associate Kerstin Jürgenson. Learn more about the industry here.