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Cirsa agrees merger with Lottomatica, with completion expected in Q2 2027

Deals & M&A

Cirsa said it had agreed to merge with Lottomatica, with completion expected in the second quarter of 2027, subject to shareholder approval. Cirsa shareholders would receive 0.668 newly issued Lottomatica shares per share, giving them 32.5% of the combined company; the agreement also provides for a €262 million Cirsa dividend before the exchange.

The proposed merger would change ownership and combine the companies’ operations, subject to shareholder approval.

End-of-day close Cirsa (CIRSA), EUR, to 16 October 2026
Story date20 July 202616 October 2026

Latest reported results

CIRSA BME: CIRSA

Quarter ended 30 September 2026

Revenue
EUR 627.6m

Lottomatica Euronext Milan: LTMC

Quarter ended 30 September 2026

Revenue
EUR 526.4m

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Deals & M&A

CIRSA and Lottomatica approve merger plan ahead of November shareholder votes

CIRSA and Lottomatica’s boards approved a joint merger plan, according to reports, with shareholder meetings scheduled for 23 November for Lottomatica and 25 and 26 November for CIRSA. Completion remains planned for the second quarter of 2027, subject to shareholder approval and regulatory authorisations. CIRSA shareholders would receive 0.668 Lottomatica shares for each share, with no cash component.

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