Gamma Intermediate S.à r.l. Sells Stakes in Lottomatica

Deal News | Jan 09, 2025 | Finance Community IT - 1 Corporate M&A

Gamma Intermediate S.à r.l. Sells Stakes in Lottomatica

Gamma Intermediate S.à r.l., a company involved in the capital markets, has successfully completed a private placement of 24 million shares of Lottomatica through an accelerated bookbuilding process. This transaction represents approximately 9.5% of Lottomatica’s share capital, with the sale price set at €12.50 per share. Post-transaction, Gamma Intermediate will retain a 41.9% stake in Lottomatica. The sale involves a lock-up period of 60 days for the remaining shares, conditional upon approval from Barclays, Deutsche Bank, and other customary exceptions. The placement was facilitated by Barclays, Deutsche Bank, Goldman Sachs International, and J.P. Morgan, serving as joint global coordinators and joint bookrunners. Additional joint bookrunners include Apollo Capital Solutions, BNP Paribas, and Unicredit, while BTIG and Siebert served as co-managers. The legal aspects for the seller were advised by Latham & Watkins. Barclays’ involvement was led by a team that includes Paolo De Luca, Stefano Conte, and Roberto Ronchi.

Sectors

  • Financial Services
  • Gambling & Gaming
  • Legal Services

Geography

  • Italy – Lottomatica is an Italian company, and several key participants, including Barclays' Italian branch, have roles based in Italy.
  • Luxembourg – Gamma Intermediate S.à r.l. is located in Luxembourg, indicating its relevance to the transaction.

Industry

  • Financial Services – This article involves participants from the financial services industry, including investment banks facilitating the transaction.
  • Gambling & Gaming – Lottomatica operates in the gambling and gaming sector, which is directly impacted by the transaction discussed.
  • Legal Services – Latham & Watkins, a law firm, is involved as the legal advisor in the transaction, indicating the legal services sector's role.

Financials

  • 12.50 – Sale price per share in the placement of Lottomatica shares.
  • 24 million – Number of Lottomatica shares sold by Gamma Intermediate.
  • 9.5% – Percentage of Lottomatica share capital sold in the transaction.
  • 41.9% – Percentage of Lottomatica share capital retained by Gamma Intermediate post-transaction.

Participants

NameRoleTypeDescription
Gamma Intermediate S.à r.l.Selling CompanyCompanyThe company executing the sale of shares in Lottomatica.
LottomaticaTarget CompanyCompanyAn Italian gambling and gaming company whose shares are being sold.
Barclays Bank PLCJoint Global Coordinator and Joint BookrunnerCompanyLeading the coordination and bookrunning of the transaction.
Deutsche Bank AGJoint Global Coordinator and Joint BookrunnerCompanyCollaborating on the facilitation of the share placement.
Goldman Sachs InternationalJoint Global Coordinator and Joint BookrunnerCompanyParticipating in the transaction underwriting and bookrunning.
J.P. MorganJoint Global Coordinator and Joint BookrunnerCompanyInvolved as a key participant in executing the transaction.
Apollo Capital SolutionsJoint BookrunnerCompanyAssisting in the coordination of the bookbuilding process.
Bnp ParibasJoint BookrunnerCompanyPart of the team managing the placement process.
UnicreditJoint BookrunnerCompanyEngaged in bookrunning for the placement.
BTIGCo-managerCompanySupporting the transaction as co-managers.
SiebertCo-managerCompanyAssisting in managing the placement.
Latham & WatkinsLegal AdvisorCompanyProviding legal advice for the seller.
Paolo De LucaCEO and Head of Investment Banking Italy at BarclaysPersonPart of the team leading Barclays' involvement in the transaction.
Stefano ConteManaging Director, Head of Southern Europe ECM at BarclaysPersonKey participant in managing the equity capital markets aspect of the transaction.
Roberto RonchiVice President, ECM at BarclaysPersonPart of the Barclays team executing the deal.