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Laxman Pai, Opalesque Asia:

European private equity manager Eurazeo agreed to acquire the remaining 20% stake in the French middle-market private equity firm Idinvest Partners before the end of the year, a press release said.

Eurazeo already owns 80% of the capital of Idinvest Partners, which it acquired in 2018. It announced then its intention to increase it in 2021 and 2022. But the spokesman said the firm recently made a strategic decision to complete the acquisition in 2020.

Now it has agreed to accelerate the acquisition of the remaining ordinary shares from Christophe Bavière, Benoist Grossmann, and their partners.

"The acquisition will enable every company in the portfolio to take full advantage of Eurazeo's range of financial and human resources and allow the new entity to further make use of its teams' strength and complementarity in investment, fundraising and operational expertise," said a press release from the global investment company, with a diversified portfolio of €18.5 billion ($21.9 billion) in assets under management.

Idinvest Partners has €8 billion in assets under management.

The acquisition will be completed by the end of 2020. The payment will be made primarily in cash. A portion of the Idinvest shares will be contributed to Eurazeo, which will result in a limited capital increase representing less than 1% of Eurazeo's current share capital. The specific terms of the operation will be set out in detail at a later stage.......................

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