Lottomatica Group, Cirsa Enterprises Boards Approve Cross-border Merger Terms

12:44 AM EDT, 10/09/2026 (MT Newswires) -- Italian gaming operator Lottomatica Group (LTMC.MI) and its Spanish peer Cirsa Enterprises' (CIRSA.MC) directors approved the terms and conditions of the proposed cross-border merger by absorption. Lottomatica, as the surviving entity, will issue 0.668 new ordinary shares for every share held by Cirsa shareholders as part of the transaction, according to a Thursday release. BDO Auditores, as the Commercial Registry of Barcelona-appointed independent expert, confirmed the fairness of the exchange ratio. Shareholders of both companies will consider the proposal at meetings expected to be held by the end of November 2026. The merger is expected to take effect in the second quarter of 2027.