CVC buys majority stake in Italy's consultancy firm BIP from Apax Partners

MILANO, May 31 (Reuters) - Italy's consultancy firm Business Integration Partners (BIP) said on Monday that private equity firm Cvc Capital Partners reached an agreement to buy a majority stake in the company from France's Apax Partners.

The company did not disclose financial details of the deal but back in February some sources told Reuters that the sale could value the Milan-based consultancy firm at up to 720 million euros ($878 million).

Paris-based Apax Partners, which was advised in the sale by Rothschild and Equita, bought 61.5% of BIP for more than 200 million euros in 2018.

($1 = 0.8201 euros)

(Reporting by Elisa Anzolin, editing by Giulia Segreti)

((elisa.anzolin@thomsonreuters.com; 0039 0266129692;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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