Private equity firm Cinven has upped its stake in French budge retailer Camaieu by 30%, paying roughly 388 million euros ($546 million), Reuters reported. The firm now owns about 95% of the company, having bought a 65% stake in Camaieu from Axa Private Equity in 2007 for 1.5 billion euros.
(Reuters) – Private equity firm Cinven has bought an additional 30 percent stake in French budget retailer Camaieu (CMAE.PA) worth roughly 388 million euros, the firm said Monday.
Cinven bought a 65 percent stake in Camaieu from Axa private equity in 2007 for 1.5 billion euros. After this transaction is completed the firm will own 95 percent of its capital.
Cinven said it paid 214.46 euros per share for the stake and would make an offer to the remaining shareholders at that price. (Reporting by Nina Sovich; Editing by Richard Chang)