AXA Private Equity has bought a majority stake in Photonis for about €500 million, backed by €290 million of debt, Reuters reports. AXA owned Photonis from 2001 before selling it in 2008 to Astorg Partners, a private equity firm specializing in mid-market French buyouts.
ING, Societe Generale Corporate & Investment Banking and IKB served as mandated lead arrangers and underwriters on the debt financing. The mezzanine facilities were arranged by Indigo Capital and Partners Group. AXA currently has $28 billion in managed assets with offices in Paris, Frankfurt, New York and Milan.
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