L’Oreal Billionaire Invests in France Even as Wealth Shrinks
- Bettencourt Meyers’ investment arm backs software firm Septeo
- Tethys Invest increases deal-making pace with French companies
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L’Oreal SA heiress Francoise Bettencourt Meyers has seen her fortune decline the most of almost anyone in the world this year, but she’s still investing in French entrepreneurs.
Tethys Invest SAS, the family’s investment firm, plans to acquire a stake of about 13% in Septeo SAS in a deal that values the software supplier used by notaries, lawyers and human resource departments at more than €3 billion ($3.1 billion). Singapore’s sovereign wealth fund GIC will take a similar stake, while private equity firm Hg will retain a majority.