Lottomatica approves CIRSA merger plan: what it means for Lottomatica stock
Published on 10/17/2026 at 10:46 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSMerger terms and next steps
- On October 8, Lottomatica and CIRSA approved a merger plan with a 0.668 share exchange ratio.
- CIRSA is to distribute EUR 1.56 per share before the merger takes effect.
- Lottomatica plans a EUR 744 million capital distribution after the merger, subject to approvals.
Lottomatica Group and CIRSA approved a common cross-border merger plan on October 8, according to the company release. The plan provides for CIRSA to be absorbed into Lottomatica, which would remain the surviving company.
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Merger terms
Under the plan, CIRSA shareholders would receive 0.668 newly issued Lottomatica ordinary shares for each CIRSA share. The exchange ratio does not include a cash settlement. CIRSA is also expected to pay an extraordinary dividend of EUR 1.56 per share, corresponding to about EUR 262 million, before the merger becomes effective. These terms are set out in the October 8 company release.
Capital distribution and timing
Lottomatica said its board intends to submit a proposal for a EUR 744 million capital distribution after the merger, through an extraordinary dividend, a partial voluntary tender offer for treasury shares, or a combination of both. The companies expect the transaction to be completed in the second quarter of 2027, subject to the required approvals. Shareholder meetings are expected by the end of November 2026, while the merger's effective date is planned no later than December 10, 2027, according to the company release.
