The private equity from will purchase the stake at a price of EUR12 per share from Apax Partners and Jean-Michel Hegesippe, the founding chairman and CEO of Outremer.
Hegesippe, the chairman, CEO and founder of France-based Groupe Outremer Telecom, will reinvest in the group alongside the with the management team, and will retain his operational duties.
The transaction is subject to Competition Authority approval.
