PRINT THIS PAGE French buy-out group PAI in E1bn talks to buy Saur water treatment business15/11/2004. Source: AltAssets. 
 French buy-out group PAI is in talks with French telecoms and construction group Bouygues to buy its Saur water treatment business in a deal worth around E1bn. PAI is reported to have beaten off stiff competition with a bid of E1.037bn for the firm's assets outside Italy and Africa.
Bouygues had originally hoped to float the business but was concerned about market conditions. A string of other private equity firms, including CVC, Terra Firma and BC Partners, are believed to have bid closer to E900m for the company.
PAI spun out of Paribas bank a few years ago and is now the largest French buy-out group. It is currently trying to raise a new fund in the region of E2bn. Its investment focus is typically in either the consumer and branded goods sectors or industrials.
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