Astorg Partners to Buy FCI Unit from Bain

Astorg Partners, the French private equity shop, is planning to buy the microconnections unit of French electrical connectors maker FCI from Bain Capital, Reuters reported Wednesday. Astorg will reportedly finance the deal with 320 million euros ($436 million) in debt. The firm did not disclose the purchase price for the business unit.

(Reuters) – French private equity firm Astorg Partners said on Wednesday it had signed an agreement to buy the microconnections unit of French electrical connectors maker FCI from Bain Capital and planned to finance the deal with 320 million euros ($436 million) in debt.

Astorg did not disclose the price paid for the unit, which makes flexible printed circuits used on SIM cards for mobile phones as well as bank cards, and had 202 million euros in sales last year. ($1 = 0.733 Euros) (Reporting By Christian Plumb)