AXA set to seal private-equity spin-off – Reuters

AXA is set to confirm the closing of a deal to spin off its private equity arm early this week, the head of AXA Private Equity said in an interview with the Financial Times, writes Reuters. The French insurer in March unveiled the structure of a spin-off that would value its private-equity unit at 510 million euros ($690.62 million), leaving AXA with a 26.9 percent stake in the business and a 200 million-euro capital gain from the sale of majority control to the unit’s management and staff.

Reuters – Air Liquide in talks to sell Anios unit

French industrial gases maker Air Liquide is in talks to sell its Anios healthcare unit in a deal potentially worth about 350 million euros ($461.9 million), writes Reuters. The prospective buyer is AXA Private Equity, which was spun off from French insurer AXA this year, writes Reuters.

AXA Private Equity’s Kallista Completes Wind Farm Project

French producer of wind energy Kallista, which is owned by AXA Private Equity has completed the wind farm project in the Ardouval Park, Seine-Maritime, France. This project has been 100% equity financed and developed entirely in-house and is the first Greenfield project for Kallista since 2010.

Reuters – AXA Private Equity Raises Elior Bid

A consortium led by Paris-based AXA Private Equity has raised its bid for Elior and is offering to buy a minority stake in the French caterer, French daily Les Echos said, writes Reuters. AXA Private Equity could not be reached immediately for comment.

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Read all about the latest in private equity this Wednesday morning including Pinebridge Investments’ new secondaries fund; FundersClub’s efforts to stay on top and a venture capital fund for privacy start-ups.

Reuters – Club Med Board Accepts Improved Bid from Top Investors

Club Mediterranee‘s board accepted an improved offer from two top shareholders that plan to take over the French holiday firm and accelerate its shift to fast-growing markets, writes Reuters. Chinese investor Fosun International and AXA Private Equity, which have teamed up with management, raised their bid to 17.50 euros a share from a previous offer of 17 euros that had left some shareholders unhappy, writes Reuters.

AXA Inks Spin Out of PE Arm

AXA on Friday announced the sale of a majority stake in its PE arm to an investor group led by Dominique Senequier. AXA Investment Managers will receive Euro 488 million for its holding in AXA Private Equity, a statement says. The deal is expected to close before the end of third quarter. Once the deal closes, AXA PE management and employees will have 40% of voting share capital, while external investors will have 33%. AXA Group will have nearly 27%.

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Click on the latest links after the weekend including fundraising news from AXA Private Equity and JPMorgan’s Highbridge; CPP targeting a nuclear fuel producer and find out why healthcare costs are going through the roof.

AXA PE Inks Sale of Alvest

AXA Private Equity has agreed to sell Alvest to LBO France. Financial terms were not announced. AXA Private Equity has owned a majority since 2006. Alvest, a French industrial group, provider of group support equipment for airports.

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