Gamma Offers 21% Stake in Italian Betting Firm Lottomatica
Lottomatica Group Spa 's largest shareholder Gamma Intermediate is seeking to sell its entire stake in the Italian betting company, worth about €1.2 billion ($1.4 billion).
Gamma Intermediate is offering about 53.6 million shares through an accelerated share sale after markets closed in Italy on Monday, according to a statement. The stake represents about 21.3% of Lottomatica's outstanding share capital, and shares are being offered at €22.50 apiece, according to terms seen by Bloomberg.
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