Italy’s Lottomatica is set to absorb Spanish gaming and betting operator Cirsa in an all-share merger that will see Blackstone roll its existing investment in Cirsa into the enlarged group, according to a report by Reuters.
Blackstone, which controls Cirsa through holding company LHMC Midco, will become the largest individual shareholder of the combined Lottomatica, with a stake of approximately 24% following completion. The US private equity firm will also receive two seats on the enlarged comp...
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