FRANCE - Turenne backs online lottery business Mediastay

As a result of the transaction, in which Turenne invested EUR 3.8m in equity and convertible bonds, Mediastay's management retains a majority stake.

Banques Populaires and Fortis underwrote the single-tranche debt package.

Based in Levallois-Perret, Mediastay generated sales of more than EUR 7m in 2006, a figure that should exceed EUR 10m next year. The company conducts online marketing campaigns on behalf of its clients, using email addresses collected from the sweepstakes it runs.

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