PIPE deals up 100%

With market valuations down France has already seen 11 pipe deals completed so far this year - more than twice as many compared to the five deals recorded in 2007. Notable deals this year included Colony and Eurazero raising their stakes in hotel operator Accor to around 30% and AXA Private Equity's 11.43% stake in electrical components company Carbone Lorraine. Take-privates, however, have not been as popular as PIPE deals. France has only seen two so far this year with Abenex taking a majority stake in Reponse group and OFI Private Equity currently up to 89.84% of Leon de Bruxelles. This figure is still down on the six completed in France last year.

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