LBO France's Cityvision sells SLT and SELT to RATP

The two subsidiaries being sold form Cityvision's OpenTour Paris brand. A Paris-based tourist bus service, OpenTour was created in 1998 by operators Cityrama and Parisvision, both of which continued developing it after merging in 2006 and being acquired in the 2008 buyout.

Under RATP Développement's ownership, the brand intends to further specialise in the sightseeing sector, with plans for international expansion from its current Paris base to London and New York.

LBO France has also entered exclusive talks with a suitor for its remaining assets in Cityvision and La Marina de Bercy. The GP, which is also in advanced negotiations to exit the OpenTour operations in Lyon, Nice and Marseille, expects the sale to go forward in July.

RATP Développement, meanwhile, had already been a shareholder in Cityvision. In 2008, the Paris public transport service reinvested alongside new backer LBO France to secure a 10% stake from FSI Régions. LBO France acquired an 88% shareholding, with the remaining 2% held by the management team.

Company
Launched in 1998 by Cityrama and Parisvision, OpenTour Paris is a tour bus brand operated by SLT and SELT. The subsidiary claims a leading position in the Paris market, where it is headquartered, carrying 750,000 passengers every year.

According to LBO France, sales generated by OpenTour Paris increased by 50% since it was acquired by the firm in 2008.

People
LBO France was represented by Dominik Zwerger, director of its Hexagone/small-cap team.

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• Topics
• France
• Exits
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• France
• LBO France