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HomeEconomySisel became Irish for $ 1.9 billion

Sisel became Irish for $ 1.9 billion

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CVC Capital Partner “Wins” twice in Super Noloto. On the one hand, the British fund is selling Sisal to Irish Off-Flatter Entertainment for 9 1.913 billion, already available online at PokerStars and Betfair on Italian. On the same day, it was announced that 70% of Mooney would sell Intesa to San Polo and Enel for a maximum of 455 million euros. Cvc has completed the company’s exit strategy of controlling historical brands such as Totip, Totocalcio and Win for Life with fast and attractive multiples (about 8 times as much as EBITDA, which is 5 times more gamnet approved for Lottomatica). The deal is expected to close in the third quarter of 2022. In 2016, the fund acquired a betting company with sales of over 53,000 points from Apax, Permira and Clessidra. In October, the CVC later announced that it would begin the listing process for the list of Milanese gaming activities, and as a result, in November it severed the payment business (Mooney, formerly Sisal Pay) from other groups (Sisal Group). The sale of a minority stake was negotiated and aired approximately $ 2 billion, exactly the figure put on the Flutter Entertainment bench. At the same time, Mooney entered into an agreement with CVC Enel X and Intesa San Polo (formerly a 30% minority shareholder through Banka 5) to sell 70% of the enterprise’s total value of 1. 1.385 billion. At the end of the deal, Enal and Intesa Sanpolo will each hold 50% of Mooney. At the expected closing at the end of the second quarter of 2022, Enel X will be valued at between 334 million and 361 million euros (220 million equity and adjustments), while Intesa will pay between 88 and 94 million. Subsequently, the entire share capital of Enel X, Enel X Financial Services, CityPoste Payment and Paytipper will be sold to Mooney for 140 million (the remaining 45% after using the call). In this way, a joint European fintech with an already strong customer base will be created. In short, the investment in Sisal proved to be really profitable for CVC. “We are proud of Sisal’s success and its transformation. Through a strong investment in digital capabilities, Sisal has become an Italian brand in online gaming, while at the same time expanding its international presence, “said Civic Italy’s Managing Partner Gimpioro Massa, who has defined Intesa and Enel as Mooney’s best partners.” Mooney is fundamental to the development of our innovative digital strategy and will be one of the pillars of the next business plan, “said Carlos Messina, CEO of Iniesta.” Digital payments are increasingly being used “.

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