LONDON, Sept. 15, 2022 /PRNewswire/ — Worldwide Recreation Know-how PLC ( NYSE:IGT) (“IGT”) immediately introduced that its wholly owned subsidiary IGT Lottery S.p.A. has accomplished the sale of its Italian proximity fee enterprise to PostePay S.p.A. – Patrimonio Destinato IMEL for €700 million.
The negotiated sale value represented an enterprise worth of €630 million and roughly €70 million of internet unrestricted money. The enterprise held roughly €140 million in unrestricted money on the closing. The rise in unrestricted money is primarily attributable to timing of vendor funds and working money flows generated since December 31, 2021. IGT will use the proceeds from the transaction primarily to pay transaction bills and cut back debt.
UBS AG acted as lead monetary advisor and equity opinion supplier to IGT, UniCredit S.p.A. acted as monetary advisor to IGT. Advant-Nctm acted as authorized advisor to IGT and KPMG acted as monetary due diligence and tax advisor to IGT.
IGT ( NYSE:IGT) is a world chief in gaming. We ship entertaining and accountable gaming experiences for gamers throughout all channels and controlled segments, from Lotteries and Gaming Machines to Sports activities Betting and Digital. Leveraging a wealth of compelling content material, substantial funding in innovation, participant insights, operational experience, and modern know-how, our options ship unrivalled gaming experiences that have interaction gamers and drive development. We’ve got a well-established native presence and relationships with governments and regulators in additional than 100 international locations world wide, and create worth by adhering to the best requirements of service, integrity, and duty. IGT has roughly 10,500 staff. For extra info, please go to www.IGT.com.
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Phil O’Shaughnessy, International Communications, toll free in U.S./Canada +1 (844) IGT-7452 and out of doors U.S./Canada +1 (401) 392-7452
Francesco Luti, Italian media inquiries, +39 06 5189 9184
James Hurley, Investor Relations, +1 (401) 392-7190
SOURCE Worldwide Recreation Know-how PLC