AXA refinances HSE24 Group
AXA Private Equity has completed another refinancing round for its portfolio company HSE24 Group.
HSE24 had been part of the Arcandor Group before it was taken over by AXA in an all-equity transaction in 2009. The first refinancing took place in July 2010 with UniCredit Bank Munich and DZ Bank Frankfurt providing senior debt of €112.5m.
The home shopping programme provider is based in Munich and operates the channels HSE24, HSE24 EXTRA and HSE24 TREND, which are broadcast in Germany, Austria and Switzerland. The media firm had a turnover of €394m in 2009 and employs 2,580 people.
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