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Lottomatica’s GTECH subsidary completes acquisition of 50 percent of Atronic from Gauselmann Group
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2008/01/31
GTECH TO ACQUIRE REMAINING 50 PERCENT INTEREST IN ATRONIC BY DECEMBER 31, 2008
ROME (ITALY) – PROVIDENCE , RHODE ISLAND (U.S.), January 31, 2008 – Lottomatica S.p.A.'s wholly-owned subsidiary, GTECH Corporation, announced that all closing conditions to acquire a 50 percent controlling interest in the Atronic group of companies owned by privately-held Gauselmann Group have been met, and the Company has completed the acquisition of such interest for €20 million in cash.
As previously announced, GTECH also intends to acquire the remaining 50 percent of Atronic for €32 million. The transaction is subject to routine regulatory reviews and approval prior to the closing which will occur in 2008.
The overall transaction is expected to have a total value of approximately €172 million, which includes approximately €120 million of debt.
Lottomatica is one of the world's largest commercial lottery operators and a market leader in the Italian gaming industry. GTECH is a leading gaming technology and services company, providing innovative technology, creative content, and superior service delivery. GTECH and Lottomatica together create a fully integrated lottery operator and gaming technology solutions provider – a combined company with worldwide scale, considerable financial strength, and industry-leading customer solutions. Lottomatica is majority owned by De Agostini, which belongs to a century-old publishing, media, and financial services group. Lottomatica is publicly traded on the Italian Stock Exchange (LTO), and in 2006, had approximately €1.7 billion in revenues and 5,900 employees in over 45 countries when combined with GTECH.
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