FRENCH MANOEUVRES

* The big story this month is the pending sale of Saur to Séché, the solid waste specialist led by Joël Séché and backed by Caisse des Dépôts, the government-controlled banking group.

The previous owner – venture capitalist PAI partners – seems to have got a good deal. It reportedly paid €980 million for the business two years ago, and the sale price is now said to be in the region of €1.72 million for the equity (debt takes the value of the deal up to €2.3 billion). It will be interesting ...

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