Sisal completes Mooney Group demerger
The Italian lottery operator has completed the separation of its payment business from its gaming operations.
Italy.- Sisal SPA, which runs Italy’s SuperEnalotto lottery, has completed the separation of its gaming and payment businesses.
It has demerged the payments provider Mooney Group through the creation of SG2 SpA, which now holds 70 per cent of the payment business.
The group has also confirmed the partial demerger of Sisal Lottery Italia SpA, which reorganises the chain of control in Sisal SpA through the transfer of the equity interests held by Sisal Lottery Italia SpA in its subsidiaries.
Sisal said the reorganisation was part of a strategic corporate restructuring that aimed to improve the definition of the group’s functions and main objectives.
The company’s 2019 financial statement, which took into consideration the potential demergers, saw total revenues of €654.8m and EBITDA of €200.6m, whereas, in 2020, heavily impacted by COVID-19 lockdowns, total revenues amounted to €523.8m and EBITDA to €176.3m.
Last month, Sisal picked the banks for its planned initial public offering (IPO) on the Italian stock exchange Borsa Italiana’s Mercato Telematico Azionario (MTA) in early 2022.
The deal is being managed by Deutsche Bank, Equita SIM, JP Morgan and UniCredit Corporate & Investment Banking.
It also announced the creation of an Advisory Board for its bid for the next UK National Lottery licence. The board is being led by Baroness Karren Brady (CBE).
