No IPO for Fraikin

Eurazeo says that it is in exclusive talks to sell its 55% stake in France-based truck leasing company Fraikin Groupe SA to CVC Capital, for an enterprise value of Euro 1.35 billion. Eurazeo also has canceled a planned Euro 520 million IPO for Fraikin, whose minority shareholders include Rhone Group, Pragma Capital and WestLB. The move comes one month after a La Tribune report that Terra Firma Capital Partners, CVC Capital and Cinven had offered to buy Fraikin for around Euro 1.5 billion. www.fraikin.fr