ÚOHS permitted the Penta group to purchase Fortuna

On 26 January 2005, the Office for Protection of Economic Competition of the CR (Úřad pro ochranu hospodářské soutěže ČR) permitted affiliation among Penta Investments Ltd. and Alicela from the Czech and Slovak investment group Penta on one side and Fortuna sázková kancelář a.s. on the other side.

“We will attempt to significantly strengthen the Fortuna’s market position. Jointly with its management, we are intensively working on the preparation of new services and games. We wish to introduce the first news from a new program, which should be more user-friendly than the existing products and more attractive for wide public, to our customers at the end of the first quarter of 2005,” Milan Musil, project manager of Penta, said.

“We perceive the acquisition of Fortuna as an interception to the entertainment industry interesting from investors’ point of view, in which increasing tendencies are being confirmed. We also analyze other investment opportunities in this segment in the Central and Eastern Europe,” Milan Musil added.

The Penta group acquired Fortuna, historically first betting shop in the Central Europe, within a two-round international tender organized by Patria Finance. not only business intention and price were decisive in the tender but also preferences of the sellers – four physical persons inclusive Mr. Michal Horáček. A contract, based on which the Penta group will become an owner of 100% shares of Fortuna in the first half-year of 2005, was signed in December 2004. Upon agreement of all parties, the purchase price and other terms and conditions of the transaction remain confidential.

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