GTECH clears all preconditions for IGT 7th April merger

Gtechigt

GTECH SpA governance has announced that the company has cleared all preconditions for its merger with International Game Technology (IGT). GTECH will now be able to complete its merger with IGT operations, following its $6.4 billion acquisition which was first announced in July 2014.

The merger of the two gambling technology companies is set to become effective on Tuesday 7 April. Having cleared its final merger hurdles, GTECH and IGT will be allowed to begin trading on the New York stock exchange under IGT trade name.

Today will be the last day of market trade for GTECH SpA on the Italian Stock Exchange. The new company principal headquarters will be located London, with US support and development centres in Las Vegas, Providence and Rhode Island.

GTECH informed the media in March that the new company would operate under the IGT brand, however the company would gain a new logo marrying the IGT name with the iconic GTECH globe.

Long term GTECH CEO Marco Sala will take up the new position of Chief Executive Officer of International Game Technology PLC.

The company further announced that that Neil Abrams was appointed as its new Senior Vice President and General Counsel. Abrams will be in charge of the company’s legal team and will report to Alberto Fornaro, Executive Vice President and Chief Financial Officer.

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