UNQUOTE

FRANCE - Apax's PIPE in GFI falls through

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A capital increase which would have granted Apax Partners 27% in listed computer services company GFI Informatique has been cancelled, following an executive board meeting.

GFI Informatique employs 8,385 staff and generated sales of EUR 633m in 2006, representing a 16.4% increase on 2005, with 7.4% from organic growth alone. The company aims to reach a turnover of EUR 1bn within three to five years, thanks in part to strategic acquisitions of smaller, more specialised competitors.
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