Bain, Lion Capital Close to Bid for Afflelou, Le Figaro Says

Private-equity firms Bain Capital LLC and Lion Capital LLP may bid in the coming days to buy a majority stake in French eyeglass maker Alain Afflelou SA, Le Figaro reported, without identifying its sources.

The winning bidder would need to raise about 300 million euros ($398 million) through debt to buy out stakes held by Bridgepoint and Apax Partners, Le Figaro said. Bridgepoint owns 57 percent and Apax 20 percent in Afflelou, the newspaper said. Founder Alain Afflelou may increase his stake, currently at 22 percent, Le Figaro said.

Afflelou is valued at about 800 million euros, Le Figaro reported.

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