Company Overview of Organismo Nacional De Loterias y Apuestas Del Estado

Europa Press reported citing sources from Finance Ministry that the Spanish government is seeking to raise between €20 billion and €30 billion from privatizations. The government is planning to privatize Renfe Operadora S.C., Aena Aeropuertos, S.A., Organismo Nacional De Loterias y Apuestas Del Estado, Canal de Isabel II, International Consolidated Airlines Group, S.A., Ebro Foods SA and Red Electrica de Espana S.A.U.

Cristobal Montoro, Budget Minister of Spain, has ruled out the privatization of Organismo Nacional De Loterias y Apuestas Del Estado, La Vanguardia reported. Montoro also said the government is studying different ways to sell Aena Aeropuertos, S.A., the report said.

The Spanish government said on September 28, 2011 that the initial public offering (IPO) of 30% stake in Organismo Nacional De Loterias y Apuestas Del Estado will not go ahead as planned. “At the moment, the situation of capital markets is very different than before,” the government said. It said conditions weren’t adequate to reflect the value of the Loterias stake.