Lottomatica Group to Absorb Cirsa Enterprises in Blackstone-backed Cross-border Merger

04:59 AM EDT, 09/02/2026 (MT Newswires) -- Lottomatica Group (LTMC.MI) and Cirsa Enterprises (CIRSA.MC) entered into a binding agreement for a cross-border merger, according to a Wednesday filing. The Italian gambling company will absorb the Terrassa, Spain-based gaming and entertainment company under the deal, with Cirsa shareholders receiving 0.668 newly issued Lottomatica shares for each share held, plus an extraordinary dividend of 1.56 euros per share before the merger takes effect. Blackstone-managed funds, through Cirsa's majority shareholder LHMC Midco, have committed to voting in favor of the merger. Blackstone is expected to become the largest shareholder of the combined company, with a stake of 24%. Lottomatica, as the surviving company, will retain listing in Milan and will also seek to trade on the Spanish stock exchanges following completion. Cirsa will be wound up without liquidation. The merger is expected to become effective in the second quarter of 2027, subject to shareholder, regulatory and other conditions.