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Chemical Week Magazine :: Business & Finance :: Europe/Mideast
AXA Private Equity Agrees to Buy Novacap from Bain
8:47 AM MST | January 21, 2011 | â€”ian young
AXA Private Equity (Paris) has agreed to acquire a majority stake in Novacap (Lyon, France) from Bain Capital for about â‚¬240 million ($321 million). The exact size of the stake was not disclosed. The deal is supported by Novacapâ€™s management team, headed by CEO Pierre Luzeau. Bain put Novacap up for sale last year, having launched the company in January 2003 after acquiring some of Rhodiaâ€™s intermediates and industrial mining activities. AXA entered exclusive negotiations recently with Bain for the acquisition. Novacap has sales of about â‚¬470...
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