(Bloomberg) — An investor group backed by Clayton Dubilier & Rice and Permira is in advanced talks on a deal to take French cybersecurity company Exclusive Networks SA private, people with knowledge of the matter said.
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The private equity consortium has lined up financing for the potential transaction to buy out minority shareholders in Exclusive Networks, the people said. It’s aiming to reach an agreement as soon as the coming days, according to the people, who asked not to be identified discussing confidential information.
Shares in Exclusive Networks have gained about 12% in Paris trading this year, giving it a market value of €2 billion ($2.2 billion). Permira is already the company’s biggest shareholder, according to data compiled by Bloomberg.
Deliberations are ongoing and details such as timing could change, the people said. Representatives for CD&R and Permira declined to comment. A spokesperson for Exclusive Networks couldn’t immediately be reached for comment outside regular business hours.
Talks about a deal for Exclusive Networks are taking place in the aftermath of France’s election, which saw a coalition of left-wing parties win the most seats in the country’s National Assembly but fall short of an absolute majority. The outcome may create an additional hurdle to getting transactions done in France, with some investors possibly becoming nervous about striking deals in an uncertain political environment.
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