Lottomatica Group has informed the Borsa Milan that it intends to merge with CIRSA Enterprises through an all-share transaction.
A prospectus issued to Milan investors this morning detailed Lottomatica’s plans to lead the combination of the businesses and establish outright market leadership in Italy and Spain.
The deal will create an enhanced platform to accelerate growth in South American markets.
Deal terms will see CIRSA absorbed by Lottomatica but retain its brand and assets in core markets. The combined business will continue under the Lottomatica name as the legal entity.
