Bettencourt-Meyers Family Firm Takes Stake in April, Echos Says

Téthys Invest SAS, the Bettencourt-Meyers family investment company, has taken a stake in French insurance broker April Group, Les Echos newspaper reported.

The move comes as private equity firm KKR & Co. closes its purchase of a majority stake in April in a deal that valued the insurer at about €2.3 billion ($2.4 billion).

Téthys and other holders, including April executives and Crédit Mutuel Arkéa, aim to create a blocking minority representing about a third of the insurer’s capital, according to Les Echos, which cited people familiar with the situation that it didn’t identify.

Téthys, April and ...