GTECH secures $2.6 billion financing agreement to finalise IGT acquisition

Lottery and gambling technology provider GTECH SpA has announced that it has entered a $2.6 billion five year senior facilities agreement with a syndicate of twenty banks in order to finalise its acquisition of International Game Technology (IGT).

The financing agreement will provide GTECH SpA with a $1.4 billion multi-currency credit facility.  The corporation have also been granted a further €850 million in open credit, which it may choose to access.

Business news source Reuters International that financing agreement had been led by JP Morgan and Italy’s Mediobanca

GTECH SpA further announced on Tuesday that its shareholders had approved the takeover of IGT, with the acquisition forming a new global gaming operator which would be listed on the New York Stock Exchange (GTECH would have to delist from the Milan Stock Exchange).

GTECH and IGT will be combined into a newly formed holding company named Georgia Worldwide plc which will be headquartered in London.

Shareholders representing a total of 71.4 percent of GTECH capital, attended a corporate vote meeting held in Rome on Tuesday in order to sanction the acquisition of IGT. 97% of the representative shareholders approved of the acquisition, which had first been proposed in July 2014