Lottomatica agrees CIRSA merger with €115m annual synergy target
Lottomatica and CIRSA agreed a proposed all-share merger, with completion expected in the second quarter of 2027, the companies said. The transaction includes an exchange ratio of 0.668 new Lottomatica shares for each CIRSA share and projected annual pre-tax cash synergies of €115m, expected by the third full financial year after completion. CIRSA is also due to pay shareholders a €262m special dividend before completion.
The proposed transaction sets out the exchange terms, expected synergies and shareholder distributions for both groups.