PAI Partners in talks to buy nursing home group DomusVi
PARIS, June 10
PARIS, June 10 (Reuters) - Private equity firm PAI Partners said it was in exclusive talks to buy a majority stake in DomusVi to help the French nursing home company boost its position in France and pursue growth abroad.
PAI said founder Yves Journel would also reinvest in the new capital structure of DomusVi, which provides more than 15,000 beds for the elderly and generated 2013 revenue of 647 million euros ($881 million).
"Our common goal is to reinforce DomusVi's position as a leader in the French market and look at pursuing further growth opportunities in Europe and elsewhere," Frederic Stevenin, a partner at PAI Partners, said in a statement on Tuesday.
DomusVi shareholders were advised by Rothschild & Cie, Cannacord, Gassenbach, Ashurst and Weil Gotshal. PAI was advised by BNP Paribas and Willkie Farr & Gallagher LLP. ($1 = 0.7345 Euros) (Reporting by James Regan; Editing by Andrew Callus)