AXA Buys Photonis from Astorg

AXA Private Equity is paying around 500 million euros ($700 million), backed by 290 million euros of debt, to buy French optical component maker Photonis from Astorg Partners, Reuters reported Wednesday. AXA has already owned a majority of Photonis – holding the company from 2001-2008 before selling to middle-market firm Astorg. ING, Societe Generale Corporate & Investment Banking and IKB acted as mandated lead arrangers and underwriters on the debt financing, while Indigo Capital and Partners Group arranged the mezzanine facilities, Reuters wrote.

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