Blackstone Acquires Cirsa, Except For Its Argentina Business

U.S. private equity giant Blackstone Group LP has acquired Spanish casino and bingo-hall operator Cirsa Gaming Corp. for an undisclosed amount, but the company’s Argentina business will remain with its founder Manuel Lao Hernandez, the companies said Friday in a joint statement. 

Owned by billionaire Lao, the Barcelona-based company was expected to be valued at around €2bn, or $2.45bn, in any potential sale, according to sources cited recently by Bloomberg News. 

“Now is the right time for a new generation of leaders to continue to build this great business,” Lao said in a joint statement with Blackstone. 

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