FRANCE - BC and AXA PE to stage Medica IPO

The Paris-based business was founded in the mid-eighties and grew by merging smaller retirement home businesses, under the direction of the Caisse des Dépots et Consignations.

BC Partners became Medica's majority owner following the EUR 750m buyout in 2006. AXA Private Equity took a minority stake, while RBS arranged the debt package to support the deal.

Around 90% of the gains from the IPO, first reported in September, will be used to pay off the company's debt and fund expansion plans, while the remaining 10% will go back to AXA PE and BC.

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