M&C S.p.A. (BIT:MEC) agreed to acquire 46.12% stake in Treofan Holdings GmbH from Merced Partners II, L.P. of Merced Capital, L.P. and ELQ Investors, Ltd. for €46.1 million on October 11, 2016. As on December 22, 2016, M&C S.p.A. (BIT:MEC) signed a contract to acquire 46.12% stake in Treofan Holdings GmbH. Under the terms of the acquisition, M&C will acquire 22.63% from Merced Capital and 23.49% from ELQ Investors. Post the acquisition, M&C will hold 87.72% stake in Treofan Holdings. M&C is ready to raise its stake to 100% if the minoirity shareholders owning together the remaining stake will choose to sell their stakes. For the first eight months of 2016, Treofan reported a normalized gross operating profit of €29.5 million. Treofan Holdings had annual turnover of €450 million. The transaction is subject to approval by the Board of M&C. The transaction received approval by the Board of M&C. Nicola Barra Caracciolo, Stephen McCleery and Federico Roviglio of Orsingher Ortu Avvocati Associati and Steffen Oppenländer and Konrad Rotthege of Hengeler Mueller Partnerschaft von Rechtsanwälten mbB acted as legal advisors to M&C in the transaction. Astrid Krüger of Allen & Overy acted as legal advisor to Merced Capital, L.P. Houlihan Lokey acted as financial advisor to Treofan. M&C S.p.A. (BIT:MEC) completed the acquisition of 46.12% stake in Treofan Holdings GmbH from Merced Partners II, L.P. of Merced Capital, L.P. and ELQ Investors, Ltd. on December 28, 2016.