Allwyn and Logflex MT Holding the owner of online sports betting and gaming group Novibet, have jointly decided to withdraw their previously announced transaction from review by the Hellenic Competition Commission, in light of feedback received from the HCC.

Allwyn announced that it had entered into an agreement to acquire a 51% stake in Logflex MT Holding Limited, the owner of the growing online sports betting and gaming group Novibet, subject to customary regulatory and antitrust approvals in January.

While Allwyn and Logflex MT Holding Limited set out carefully considered proposals to the HCC, Allwyn is committed to only pursuing transactions that would deliver clear value for shareholders.

Allwyn and Logflex MT Holding Limited therefore no longer expect the previously announced transaction to proceed.