Lottomatica and CIRSA agree proposed all-share merger targeting €2bn EBITDA
Lottomatica and CIRSA said their boards had agreed the main terms of a proposed all-share merger, under a binding agreement also signed by CIRSA majority shareholder LHMC Midco. The cross-border merger would absorb CIRSA into Lottomatica, with CIRSA shareholders receiving newly issued Lottomatica shares. The companies projected about €2bn in pro forma adjusted EBITDA and €115m in annual pre-tax cash synergies.
The proposed merger would combine the groups’ operations and ownership, with planned synergies and market positions across multiple countries.