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Macfarlanes advises RBS Equity Finance in relation to its follow-on investment in Moneycorp
RBS Equity Finance has agreed to acquire a significant follow-on equity investment in Moneycorp which takes its total shareholding to 92.5 per cent.
Moneycorp is a leading non-bank provider of foreign exchange services and operates in an attractive sector. It is well positioned with opportunities to exploit growth potential in both new and existing markets, driven by rapidly evolving technologies and customer behaviours. There is also potential for Moneycorp to consolidate a fragmented industry with a number of bolt-on acquisitions in both high-growth and high-tech markets.
RBS Equity Finance, as the sole institutional investor in Moneycorp, will be better able to execute the growth strategy that they have developed over recent months.
Stephen Drewitt, corporate partner at Macfarlanes who led the team said: "Having acted for Royal Bank Equity Finance on the original investment, it's been great to maintain the relationship with the client and with TTT and we very much hope to remain involved as the company prospers going forward."
For further information, please contact Stephen Drewitt.
02 November 2011
