PAI Partners has sent an irrevocable offer to France-based and Paris Euronext-listed Elior Group for the acquisition of Areas, the group's concession catering division, which the offer values at €1.54bn.
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Fund complements PAI's existing large-cap strategy with the aim of targeting mid-sized companies across Europe
Fund invests in European digital platforms and marketplaces, targeting pre-seed and seed rounds
Management team is led by Chris Shaw who was appointed as chief executive in September 2017