![]() Newsletter Signup
Stay informed with the
NEW Casino City Times newsletter! Related Links
Recent Articles
Best of Howard Stutz
|
Gaming GuruGTECH obtains financing to complete IGT acquisition10 February 2015
The transaction, expected to close in the spring, is valued at $6.4 billion. Shareholders of International Game Technology were expected to vote on the buyout Tuesday. The pricing of the high yield notes included $3.2 billion in American dollars and 1.6 billion in Euros. GTECH CFO Alberto Fornaro said in a statement the financing will not have any “significant maturity” dates before 2018. “It is the inaugural issuance in the U.S. and the first time we have launched a global deal,” Fornaro said. “Overall, this is another important step toward the close of the IGT transaction.” In a statement, GTECH said the company and IGT would merger into Georgia Worldwide with the ordinary shares listed on the New York Stock Exchange. A spokesman for GTECH said in an e-mail the name was just a “place holder.” IGT agreed last summer to be acquired by GTECH for $4.7 billion in cash and stock, and assumption of $1.7 billion of the Nevada-based slot maker’s debt. Under terms of the agreement, IGT and GTECH will combine under a newly formed holding company with corporate headquarters in the United Kingdom. The company will maintain operating headquarters in Las Vegas; Providence, R.I.; and Rome. The deal still requires approval of Nevada gaming regulators. Copyright GamingWire. All rights reserved.
GTECH obtains financing to complete IGT acquisition
is republished from Online.CasinoCity.com.
Related Links
Recent Articles
Best of Howard Stutz
|