By The Weekly Edge desk · · Updated
Lottomatica and CIRSA signed a plan setting out CIRSA's proposed merger into Lottomatica, iGaming Today reported. The companies confirmed the agreement in a joint statement on 8 October after disclosing the deal in September.
The signed plan sets out CIRSA’s proposed merger into Lottomatica, giving investors a formal agreement following September’s disclosure.
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Board approvals advance the merger plan setting terms for Lottomatica to absorb CIRSA.
Lottomatica and CIRSA’s merger plan has board approval ahead of November votes, with BDO confirming the exchange ratio’s fairness.
The approved cross-border merger plan sets terms and conditions for absorbing CIRSA into Lottomatica.
Cirsa shareholders would receive 0.668 Lottomatica shares per share under the merger plan approved by both boards.
Offshore betting prohibitions and absent online licensing routes limit operators’ regulated entry options in Morocco, Tunisia and Egypt.
Lottomatica’s merger assessment links confidence in Cirsa’s management with lessons from earlier deals that failed after excessive changes were sought.