Eastern European gaming operator Olympic Entertainment Group (OEG) has agreed to be acquired by a UK-based private equity group.

Earlier this week, the Estonia-based OEG announced that its two largest shareholders, Armin Karu and Jaan Korpusov, who collectively hold 64% of OEG, had voted in favor of a takeover bid by Odyssey Europe AS, which is owned by funds advised by UK private equity firm Novalpina Capital.

Odyssey is looking to buy 100% of OEG’s shares in an all-cash offer at €1.90 per share, which would place a total value of around €288m on OEG. The share offer period is expected to start on April 4 and extend through May 2. Assuming all goes as planned, OEG will delist from the Nasdaq Tallinn exchange following the offer, after which OEG and Odyssey will merge into a single entity.

Karu, OEG’s founder and chairman, issued a statement saying he considers the €1.90 per share offer “to be fair and I recommend other shareholders to take up the offer.” Karu said Novalpina Capital’s team “has significant experience in investing in companies and helping them expand both geographically and digitally.”