Intralot has sold a majority stake in its wholly-owned Peru business to the Nexus Group.
Under the agreement, the terms of which were not disclosed, Nexus will take an 80% share of the Intralot De Peru operating unit.
The deal remains subject to certain conditions, including the consent of various third parties.
Intralot’s decision to offload the stake comes after the firm earlier this month revealed its financial results for the first quarter.
Revenue fell 3.6% year-on-year to €335.2 million ($374.8 million), although when including the company’s operations in Italy, this remained relatively level at €499.5 million.
Related article: Intralot CEO hails ‘strong’ performance as EBITDA rises in Q1