Italy-based lottery technology and services specialist GTech SpA and Nevada-based slot machine maker International Game Technology officially became one business on Tuesday, using the brand name of the latter.
GTech’s US$6.4-billion cross-border merger with and into its recently created United Kingdom subsidiary International Game Technology Plc became effective from 12.01 GMT.
“The combined companies will now be known as International Game Technology Plc (IGT PLC) with corporate headquarters in London, and operating headquarters in Rome, Italy; Providence, Rhode Island; and Las Vegas, Nevada,” said the new entity in a press statement on Tuesday.
Trading on Nasdaq in New York of shares in the IGT Plc holding company also starts on Tuesday.
On April 2 it was announced that shareholders of the old IGT corporate entity would be entitled to more cash from the merger than had initially been estimated.
On Friday, GTech’s shares ceased trading on the Italian Stock Exchange.
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DS Kim, Jeremy An and Christine Wang
Analysts at brokerage JP Morgan Securities (Asia Pacific) Ltd