Cremonini SpA, an Italian
food services company, has agreed to acquire the remaining 50% stake not
already held by it in Moto SpA, the Italian operator in the market of
motorway catering from Compass Group plc, the Italian motorway restaurant
services provider for ¤ 14.5 million.
Cremonini will consolidate 100% of Moto S.p.A. from January 1, 2006. Moto is
expected to generate revenues of approximately ¤ 130 million, of which ¤ 75
million is from catering and ¤ 55 million from petrol and oil.
The acquisition will enable Cremonini to strengthen its position through
strong growth prospects and reassignment of concessions expected over the
next 4 years. Moto will continue to operate from its current headquarters
located in Castelvetro di Modena and will continue to use Moto brand name
for the next five years.
AdviCorp acted as financial adviser to Cremonini Group.
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