If Zapata can't raise enough interest among exiting shareholders, it will scrap the offering.

Exiting shareholders will be paid 19.174 euros per GTECH share, the statement said.

Still, market circumstances could create a situation in which repurchases would benefit both continuing and exiting shareholders, he said.

CIC acquired its shares primarily from exiting shareholders Old Mutual Private Equity OML.LOMLJ.J and South African investment bank and asset manager Investec INLJ.J.