Italian lottery operator GTECH S.p.A. has announced Wednesday that it would acquire Las Vegas-based slot machine maker International Game Technology for $6.4 billion, including $1.75 billion in net debt. GTECH said it had secured financing from Credit Suisse, Barclays and Citigroup.
The transaction must be approved by shareholders of both companies. However, an Italian holding firm that controls nearly 60 percent of GTECH’s shares, De Agostini S.p.A., has agreed to support the transaction. It will hold 47 percent of the new company’s shares. The deal, which is also pending clearances from antitrust and gaming regulators, is expected to close in the first half of 2015.
