Italian trading venue Borsa Italiana, part of the London Stock Exchange Group (LSEG), has acquired a 94.4% share in Pro Mac, the management company of Italian small and mid-cap market Mercata Alternativo Del Capitale (MAC). It was bought from 22 existing shareholders of the company including a number of leading Italian banks and associations for a cash consideration of €5.15 million.
Acquiring the management of MAC, which is hosted on Borsa Italiana's trading platform, is intended to allow Borsa Italiana to develop markets for SMEs, with the aim of providing an integrated management structure more suited to issues' requirements.
Borsa Italiana will own 99.6% of Pro Mac following the transaction, however the exchange has stated that the large Italian banking groups will continue to operate as sponsors for MAC companies. MAC will maintain its current regulatory framework.
Borsa Italiana was acquired by the LSEG in October 2007 for €1.6 billion. The LSE has also owned a majority stake in pan-European multilateral trading facility Turquoise, since February 2010.