Platina buys French engineer for €13m

Platina Finance has paid €13m for a two-thirds stake in a French engineering group in its first deal of 2007.

Platina Finance has bought a majority stake in Cira Concept, a French design engineering group, for €13 million ($17 million). Platina will fund the deal with up to €7 million debt provided by Société Générale, a statement said.

The Cira Concept management team has reinvested in the business and will own the remaining third.

The company operates internationally in the oil and gas, chemicals, cosmetics and pharmaceuticals, and nuclear sectors.

Deloitte provided financial services to Platina while French firms Lamy & Associés and Ayache, Salama & Associes gave legal advice.

Société Générale gave financial advice to Cira Concept while French firm Bignon Lebray & Associés acted as lawyers.