Italy’s Sisal to demerge payments business

Sisal will demerge Mooney Group.
Sisal will demerge Mooney Group.

The Italian operator Sisal will split Mooney Group from its lottery and gaming business.

Italy.- Sisal Group SpA, which operates Italy’s SuperEnalotto lottery, is to de-merge its payment services company Mooney Group as part of a corporate restructuring.

Sisal will transfer 70 per cent of its shares in Mooney Group to a new company named SG2 SpA, which belongs to its parent company. Mooney Group will therefore no longer be a subsidiary of Sisal.

Sisal SpA will then be de-merged in favour of Sisal Group. Sisal SpA’s assets will be transferred to Sisal Group.

The company said the corporate restructuring aims to better define the group’s “functions and primary objectives” and to rationalise and streamline the group’s chain of command.

Sisal Group said in a statement: “The effectiveness of the de-merger of Sisal SpA is subject to the obtaining of the necessary authorisations including those from the competent authorities.

“It is currently estimated that the demerger of Sisal Group and, subject to the obtaining of the necessary authorisations, the de-merger of Sisal SpA may be completed by November 2021.”

Sisal is bidding for the fourth licence to run the UK National Lottery, on which the Gambling Commission is expected to make a decision in September.

It’s up against Sazka’s Allwyn. The incumbent operator Camelot has not confirmed its bid but is assumed to be taking part. India’s Sugal & Damani is said to have dropped its bid for the next National Lottery licence.

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