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Allwyn proposes €16bn all-share merger with OPAP

Deals & M&A

Allwyn International announced a proposed all-share merger with OPAP, valuing the combined entity at €16bn. The transaction requires shareholder approval, with discussion planned at a general meeting in late 2025 or early 2026. Allwyn said the combined company would be headquartered in Switzerland and remain listed on the Athens Stock Exchange.

The proposal could reshape ownership and governance at two major lottery and gaming businesses, subject to shareholder approval.

End-of-day close Allwyn (ALWN), EUR, to 27 November 2025
Story date29 August 202527 November 2025

Latest reported results

Allwyn Athens: ALWN

Quarter ended 30 June 2026

Revenue
EUR 1.25bn
Operating income
EUR 141.0m

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