Intralot - comment

Controlling shareholder Sokrates Kokkalis has acquired an incremental ~4.8% of shares in Intralot on the Athens Stock Exchange, taking his personal share of ownership from 20.9% to 25.7% for just under €3.5m. We do not know whose stake the founder has bought and therefore also don’t quite understand the rationale. If it was a single stake from a larger shareholder, then we may soon hear of the other side of the trade.

Intralot are in the process of marketing their US division, for which a sale was originally envisioned around this time. State of markets aside, we are viewing this transaction in this context.