Axa Private Equity in Talks to Buy Novacap from Bain

Axa Private Equity (Paris) is in exclusive negotiations to acquire Novacap (Lyon, France) from Bain Capital, French financial journal l'Agefi says. Bain put Novacap up for sale last year, having acquired the business from Rhodia in 2002. The talks focus on an acquisition price of €250 million-€300 million, l'Agefi says. Axa, Bain, and Novacap declined to comment on l'Agefi's report. Novacap has three business units: Novacarb, which makes soda ash; Novacid, producing hydrochloric acid; and Novapex, making cumene, phenol, and acetone. The company has...

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