Forexchange

Fineurop Soditic acted as M&A adviser to Industrial Resources Investments which sold the majority stake of Maccorp Italiana S.p.A. to Emerald Advisory Service & Equity Investments S.A., private equity fund advised by PM&Partners. Maccorp Italiana was founded in Milan in 1990 and it opened its first bureau de change in Venice in January 1991. In addition to the foreign exchange, the Group provides lots of complementary services, such as money transfer, V.A.T. refund, hotel booking, tourist information, sale of telephone cards and on-line recharge of mobile phones. Maccorp’s network is constituted by 85 branches in places with a high flow of tourists and travellers such as airports, rail stations and historical centres. The Group has recently acquired Grandi Biglietterie S.r.l. active in the ticketing business (mainly trains, flights and boats) with “Agenzie 365” brand. In 2006 the Group posted a consolidated turnover of Euro 25.5 million with an Ebitda margin of 35%.