Mooted LBO for Foncia to need Eu485m debt
Private equity firms Bridgepoint and Eurazeo have entered into exclusive discussions to buy French real estate property management group Foncia. If it goes ahead, the deal will require Eu395m of acquisition debt and a capex facility of Eu90m.
Enterprise value for the buy-out would be Eu1.017bn, with Bridgepoint and Eurazeo each investing around Eu240m in equity. Present owner BPCE, the banking group created by the merger of Banques Populaires and Caisses d’Epargnes, would invest Eu200m in the business.
Advent and Charterhouse had also been chasing Foncia, bankers
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