Italian betting firm Lottomatica agreed to absorb Barcelona-based Cirsa Enterprises in an all-share merger, creating a combined gambling company whose largest individual shareholder would be U.S. private equity firm Blackstone. Cirsa shareholders would receive 0.668 newly issued Lottomatica shares for each Cirsa share. The resulting company is planned for listing on Euronext Milan and Spanish stock exchanges, while Lottomatica shareholders are expected to own 67.5% and Blackstone about 24%.