FRANCE - AXA acquires minority stake in Cegos

The deal is part of a management-led secondary buyout involving 120 managers, a large number of employees and existing shareholder Cegos Association. Cegos' initial buyout took place in 2005.

The deal may serve as an illustration of recent market sentiment which states that many buyout houses will begin pursuing minority stakes in businesses as traditional, majority-stake buyouts remain difficult in the current market conditions.

Cegos was founded in 1926, employs 1,200 people and posted revenues in 2008 of EUR 195.5m.

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