LONDON, July 30 (Reuters) - Private equity firm Apax is set to agree the acquisition of a 50% stake in medical group Palex in a deal that will value the company at around 1 billion euros ($1.1 billion), debt included, according to two sources with knowledge of the deal.
Apax would acquire the stake in the medical equipment provider from investment fund Fremman and other minority shareholders, the sources said.
Fremman, which was majority shareholder of Palex prior to the deal, would keep a 50% stake in a vehicle that will control the company.
Apax and Fremman would partner with Palex's management team, which also owns a minority stake, the sources added.
The deal will be announced as soon as next week, the sources said.
Persons:
Apax, Fremman, Palex, Andres Gonzalez, Lisa Shumaker
Organizations:
Thomson
Locations:
Italian, Spanish, Europe, Spain, Portugal, Italy