Axa Private Equity buys stake in Newrest

Axa Private Equity, the private equity arm of French insurer Axa (EPA:CS), has acquired a 22.5% stake in French inflight catering company Newrest.

Newrest's management has raised its interest in the company to 67.6% from 61.3%. Local funds Cap Vanine and Sycomore have sold their stakes, while investment bank Natixis (EPA:KN) has cut its shareholding in Newrest's capital.

The catering group booked a revenue of EUR408m (USD584.6m) in fiscal 2008/09, ended September 30.

Country: France

Sector: Hotels/Restaurants/Casinos/Catering

Target: Newrest

Buyer: Axa Private Equity

Type: Stakebuilding

Status: Closed

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