IVS Group S.A. has announced that its 100 percent controlled subsidiary CSH S.r.l. has signed a contract for the acquisition of 100 percent of Moneynet S.p.A. specialized in e-money and payment services, presently owned by Nexi Group through the subsidiaries Bassilichi S.p.A. and Consorzio Triveneto S.p.A.
Moneynet is an “hybrid” Payment Institution (IP), managing two separate activities: a) payment services, with a segregate destined equity, according to Bank of Italy authorization (IP business); b) services related to assistance on the field for installation and maintenance of POS networks, carried out by specialized technicians (Field business). The expected price (equity value) for the purchase of 100 percent of Moneynet S.p.A. shares is equal to Euro 100.000 (one hundred thousand); at the closing date the target company shall have a positive Net Financial Position of around Euro 3 million. The transaction is subject to the authorization of Bank of Italy.
IVS Group S.A. is the Italian leader and the second player in Europe in the business of automatic and semi-automatic vending machines for the supply of hot and cold drinks and snacks (vending). The business is mainly carried out in Italy (79 percent of sales), France, Spain and Switzerland, with around 190,000 vending machines, a network of 79 branches and around 2,700 employees. IVS Group serves more than 15,000 corporate clients and public entities, with around 850 million vends per year.
