Lottomatica to Absorb Cirsa in All-Share Deal, Leaving Blackstone as Biggest Investor in New Gambling Giant

The cross-border merger will eliminate Cirsa as a standalone legal entity, put roughly a third of the enlarged company in the hands of its existing shareholders and set up more than €1 billion in transaction-related capital distributions. Cirsa’s life as an independent listed company is set to be unusually short. The …