November 29, 2017 / 7:04 AM / 2 years ago

Investment group Eurazeo to buy stake in private equity firm Rhone

PARIS, Nov 29 (Reuters) - French investment company Eurazeo has agreed to buy a 30 percent stake in Rhone, a private equity firm set up by former Goldman Sachs and Lazard bankers, in a deal which Eurazeo said would boost its earnings.

Eurazeo said it was buying the stake in exchange for $100 million in cash and 2 million newly issued Eurazeo shares.

“This strategic partnership will bolster Eurazeo’s business model and help us grow and transform companies, creating further value for our shareholders,” said Eurazeo chief executive Patrick Sayer in a statement.

Rhône was founded in 1996 by Robert Agostinelli and Steven Langman who previously worked in cross-border mergers and acquisitions with Goldman Sachs and Lazard.

Reporting by Sudip Kar-Gupta; Editing by Sarah White

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