Carlyle set to acquire SagemCom from Gores
Carlyle is in advanced negotiations with The Gores Group for the acquisition of SagemCom, a French manufacturer of network equipment and television set-top boxes, according to French daily Les Echos.
Carlyle is understood to have offered less than €500m for the asset. This valuation is inferior to the €700m estimated earlier this year, when Carlyle was first rumoured to be circling SagemCom.
US private equity firm The Gores Group backed the spin-off of Sagem Communications from its parent corporation Safran in 2008, a deal that valued the business at €383m.
Based in Rueil-Malmaison, Sagem Communications manufactures terminals for faxes and digital television set-top boxes and broadband terminals. It posted a €1.4bn turnover in 2010 and currently employs in excess of 6,000 people.
More on France
Change of mind: Sponsors take to de-listing their own assets
EQT and Cinven seen as bellweather for funds to reassess options for listed assets trading underwater
EU FSR could impact PE fundraising with potential rise in ‘clean funds’
FSR could lead GPs to create funds without foreign LPs; red tape around sovereign wealth funds likely
Letter from the editor: Unquote is moving to Mergermarket
Unquote Editor Harriet Matthews outlines Unquote.com's upcoming move to the Mergermarket platform and the new capabilities and intelligence that this brings to Unquote readers
IK Investment-backed Eres expected to hit the auction block by 2024
French employee savings distribution and management firm could be valued at a few hundred million euros
Latest News
Stonehage Fleming raises USD 130m for largest fund to date, eyes 2024 programme
Multi-family office has seen strong appetite, with investor base growing since 2016 to more than 90 family offices, Meiping Yap told Unquote
Permira to take Ergomed private for GBP 703m
Sponsor deploys Permira VIII to ride new wave of take-privates; Blackstone commits GBP 200m in financing for UK-based CRO
Partners Group to release IMs for Civica sale in mid-September
Sponsor acquired the public software group in July 2017 via the same-year vintage Partners Group Global Value 2017
Change of mind: Sponsors take to de-listing their own assets
EQT and Cinven seen as bellweather for funds to reassess options for listed assets trading underwater