UK/FRANCE - Apax sued over profit split

Tchenio is chairman of the groups French affiliate, which resisted the merger with the UK-based holding company in 1999. He claims he is owed a share of profits and management fees for recent investments in the Netherlands, Sweden and Italy, which are seen as shared territory between the French and the UK based divisions. Many will see this latest dispute as an example of the deteriorating relationship between the business.

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