New York-listed International Game Technology (IGT) has completed the sale of its Italian payments business to PostePay, a subsidiary of Italian postal service provider Poste Italiane.
Initially announced in February, the €700m negotiated sale price represents an enterprise value of €630m and approximately €70m of net unrestricted cash.
The business held approximately €140m in unrestricted cash at closing, with the increase primarily attributable to the timing of vendor payments and operating cash flows since 31 December 2021.
The [...]
