Latham & Watkins Advises Lottomatica on Business Combination With CIRSA
Latham & Watkins LLP advises Lottomatica Group S.p.A., the leading player in the Italian gaming market, on the proposed all-share combination with Cirsa Enterprises, S.A. (CIRSA), one of the world's leading gaming and leisure companies and Spain’s leading company in the sector. The proposed business combination will be implemented, subject to approval at the shareholders’ meetings of Lottomatica and CIRSA and other conditions, by way of an EU cross-border statutory merger, with CIRSA being absorbed by Lottomatica.
The proposed combination will create a leading global sports betting and gaming player, which will retain Lottomatica’s current name, with number-one positions in Italy and Spain, and a leading presence in other high-growth markets. Lottomatica shares, including the newly issued Lottomatica shares to be allotted in connection with the proposed business combination to CIRSA’s shareholders, will remain listed on Euronext Milan (Borsa Italiana) and, following completion, will also be admitted to trading on the Spanish stock exchanges.
The Latham team was led by partners Antonio Coletti and Stefano Sciolla with counsel Federico Amoroso and associates Giulio Palazzo, Nicholas Luraghi, Gianluca Volpato, Lorenzo Rovelli, Leonardo Fossatelli, Lorenzo Gargelli, Francesco Gorni, Alberto Tognon, and Francesca Condò, for corporate and capital markets matters. Advice was also provided on FDI matters by a team led by partner Cesare Milani with Edoardo Cassinelli, Irene Terenghi, and Ursula Seliciato; on Spanish law matters by partners Ignacio Gómez-Sancha and Ignacio Pallarés, with counsel Luis Lozano and associate Lucía de Bustos; on Spanish tax matters by partner Jordi Dominguez, with associate Juan Rodríguez; on antitrust matters outside Italy by partner Héctor Armengod, with associates Anne-Claire Théry and Álvaro López Usatorre; on international FDI matters by partner Jana Dammann, with associate Enno Mensching; on US securities law matters by partner Ryan Benedict, with associate Gabriela Barriuso Clark; and on Italian finance matters by partner Antongiulio Scialpi, with associate Davide Chiarito.