AXA Private Equity has signed a deal to buy a 52.26% stake in Groupe Outremer Telecom from Apax Partners and Jean-Michel Hegesippe, Outremer’s founding Chairman and CEO. The stake is being sold at a price of €12 per share.
The deal, which is subject to the approval of the French Competition Authority, is expected to close in the next few weeks. After the deal, Hégésippe will re-invest along with the management team and AXA Private Equity to lead a new phase in the company’s development.
Click here for the release from AXA Private Equity.