La Poste will sell the 90% stake in Xange Private Equity it owns through its La Banque Postale division to Siparex, buying back a 20% share.
La Banque Postale, the financial services subsidiary of France-based postal service La Poste, has agreed to divest its entire 90% stake in subsidiary Xange Private Equity to private equity firm Siparex.
Founded in 2004, Xange manages about €315m ($345m) in France and Germany-based assets. It makes venture capital investments alongside the provision of buyout capital.
France-based Siparex, which has €1.2bn of assets under management, will take over the management of the fund. La Poste will buy back a 20% stake…
