TCP – Intralot agreement signed May 25, 2016
25 May, 2016 - Trilantic Capital Partners Europe (“TCP”) and Intralot S.A. (“Intralot”) announce today the signature of the agreement to combine the Italian activities of Intralot into Gamenet. This step follows the announcement of the signature of a Memorandum of Understanding on 21 March, 2016. The completion of the transaction, which is expected by the end of June, is subject to the approval of the competent Antitrust Authority.
As indicated in prior communications, following the completion of the combination, TCP will control approx. 80% of the combined operations while the remaining 20% will be controlled by Intralot.
The combined group will become one of the largest operators in the Italian gaming market and is expected to have a network of approximately 750 betting shops that will continue to use the Intralot’s brand name, approx. 8,200 VLTs, over 50,000 AWPs licenses and more than 60 directly owned and managed gaming halls.
The combined group has the same Net Financial Position of Gamenet before the dividend paid on May 4th, 2016 (since Intralot Italian assets are contributed with no debt and positive cash).