It is understood that Astorg Partners is in exclusive negotiations with insurance broker Gras Savoye regarding the acquisition of a minority stake in the business, in a deal that would value the business at EUR 500m.
First MBO in Italy for the GP, which will now start investing from its recently raised Fund VIII
Add-on comes after Mergermarket reported that the sale of Bergman had been suspended in March 2020
Trade buyer Xact was acquired by JLL Partners from Clearview Capital in 2018 in an MBO
Existing investors Novo Holdings, Morningside Ventures and Brace Pharma Capital also participate