U.S. private equity giant Blackstone is exploring the sale of its stake in French telecom infrastructure provider Sipartech, according to two sources with knowledge of the situation.
Blackstone is looking to hire advisers for a sale of its 49.9% stake in the company, which could value Sipartech at up to 1 billion euros ($1.08 billion), the people said, speaking on condition of anonymity because the talks are private.
A spokesperson for Blackstone declined to comment, while Sipartech did not immediately respond to a request for comment.
Blackstone acquired the stake in 2019 from growth equity investor Summit Partners, who invested in the business alongside founder and CEO Julien Santina in 2016.
The company is present in 10 European countries, connecting data centres through a network of more than 30,000 kms (18,641 miles) of fibre, according to data published on its website.
Source: Reuters.com