The operating company of Italy’s SuperEnalotto lottery, Sisal Group SPA, will undergo a “organisational restructure” that would result in the group’s demerger in favour of a newly established company called “SG2 SPA.”
The demerger is part of a larger corporate reorganisation strategy that aims to “better define the functions and primary objectives of the group,” and will separate Mooney Group from Sisal, the company’s flagship gaming and lottery operation.
The 70 percent of Mooney Group shares owned by Sisal Group will be transferred to the new business, SG2 SpA, which is owned by Sisal Group’s parent firm, therefore making Mooney Group SpA no longer a Sisal Group subsidiary.
A second demerger, which will see Sisal SpA demerged in favour of Sisal Group, has also been granted. The Sisal Group said in a statement that the move is “aimed at rationalising and reorganising the control chain of the group.”
The assets of Sisal SpA will be transferred to Sisal Group, with the goal of streamlining the company’s chain of command.
In a statement, Sisal Group said: “The effectiveness of the demerger of Sisal SpA. is subject to the obtaining of the necessary authorizations including those from the competent authorities.
“It is currently estimated that the demerger of Sisal Group and, subject to the obtaining of the necessary authorizations, the demerger of Sisal SpA may be completed by November 2021.”