Sisal Group firm up demerger plans
Sisal Group S.p.A. has approved the corporate reorganization activities by means of the demerger of Sisal Group in favour of the newly incorporated company SG2 S.p.A.
The demerger of Sisal Group is part of a wider process of corporate reorganization aimed at remodeling and rationalizing the activities of the group headed by Sisal Group, making the activities related to the payment services sector headed by Mooney Group S.p.A. independent from the activities related to the gaming sector headed by Sisal S.p.A..
As a result of the demerger of Sisal Group, the 70% shareholding held by Sisal Group in Mooney Group will be transferred to the company SG2 S.p.A., which is 100% owned by the direct parent of Sisal Group. As a result, Mooney Group will no longer be a subsidiary of Sisal Group.
It has also been approved the demerger of Sisal S.p.A in favour of Sisal Group, aimed at rationalizing and reorganizing the control chain of the group.
As a result of this second demerger, among the different assets, the shareholdings held by Sisal S.p.A in its subsidiaries will be transferred to Sisal Group. The effectiveness of the demerger of Sisal S.p.A. is subject to the obtaining of the necessary authorizations including those from the competent authorities.