Gamma Intermediate Sells 21.3% Stake in Lottomatica
Deal News | Jun 17, 2025 | Finance Community IT - 3 Private Equity
Gamma Intermediate, a vehicle of the Apollo fund, has divested 21.3% of its stake in Lottomatica through a private placement using an accelerated bookbuilding process. The transaction involved selling 53,555,556 shares at a fixed price of €22.50 per share, amounting to approximately €1.21 billion. Several financial advisors played key roles in this deal, including Barclays, Deutsche Bank, BNP Paribas, Goldman Sachs International, J.P. Morgan, and UniCredit, acting as global coordinators and bookrunners. Additional support was provided by Apollo Capital Solutions, Berenberg, BTIG, Jefferies, Morgan Stanley, and Siebert in various capacities.
Sectors
- Private Equity
- Financial Services
- Gambling and Gaming
Geography
- Italy – Lottomatica is an Italian company, and the transaction took place within this jurisdiction.
Industry
- Private Equity – The transaction involves Gamma Intermediate, a vehicle of the Apollo private equity fund, divesting shares in Lottomatica.
- Financial Services – The involvement of multiple financial institutions acting as global coordinators and bookrunners in the placement indicates an engagement with financial services.
- Gambling and Gaming – Lottomatica operates in the gambling and gaming sector, and the transaction involves its shares.
Financials
- €1.21 billion – The total value of the shares sold by Gamma Intermediate, representing 21.3% of Lottomatica, at €22.50 per share.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Gamma Intermediate | Selling Company | Company | A vehicle of the Apollo fund engaged in the sale of shares in Lottomatica. |
| Apollo | Private Equity Firm | Company | The private equity firm behind Gamma Intermediate, facilitating the divestment deal. |
| Lottomatica | Target Company | Company | An Italian company in the gambling and gaming sector, whose shares were sold. |
| Barclays | Lead Joint Global Coordinator and Joint Bookrunner | Company | Provided financial advisory services for the transaction. |
| Deutsche Bank | Lead Joint Global Coordinator and Joint Bookrunner | Company | Acted as a lead advisor in the share sale process. |
| BNP Paribas | Joint Global Coordinator and Joint Bookrunner | Company | Participated in the transaction as an advisor. |
| Goldman Sachs International | Joint Global Coordinator and Joint Bookrunner | Company | Provided advisory services for the placement process. |
| J.P. Morgan | Joint Global Coordinator and Joint Bookrunner | Company | Played an advisory role in the transaction. |
| UniCredit | Joint Global Coordinator and Joint Bookrunner | Company | Involved in coordinating and managing the sale. |
| Apollo Capital Solutions | Joint Bookrunner | Company | Engaged in managing the bookbuilding process. |
| Berenberg | Joint Bookrunner | Company | Assisted in the execution of the share sale. |
| BTIG | Joint Bookrunner | Company | Among bookrunners facilitating the share placement. |
| Jefferies | Joint Bookrunner | Company | Participated in the bookrunning coordination. |
| Morgan Stanley | Joint Bookrunner | Company | Played a role in coordinating the transaction. |
| Siebert | Co-manager | Company | Acted as co-manager in the share placement. |