British private equity firm to take majority stake in Alain Afflelou

Private equity firm Bridgepoint is to take a majority stake in Alain Afflelou, France's 783-practice multiple, after Mr Alain Afflelou and Apax Partners agreed to sell their controlling stake in the company.

Bridgepoint, a pan-European investment fund with London headquarters, has offered €33 per share, representing a 27 per cent premium on the average share price for the past three months.

The offer implies a company value of €500m.

The acquisition vehicle will acquire a stake of 61.1 per cent of Alain Afflelou SA's share capital. In accordance with French market regulations, a public offer will be filed for the remain share capital. The company will then be delisted from the stock exchange.