PAI to Pay Over €1 Billion for Majority Stake in Infra Group (1)

PAI Partners has agreed to pay just over a €1 billion to acquire a majority stake in Infra Group from the company’s management and Intermediate Capital Group, according to people familiar with the matter.

Goldman Sachs Group Inc. and Citigroup Inc. are leading a financing deal for the buyout by the French private equity firm with a package of around €500 million ($543 million) of senior leveraged loans, said the people, who spoke on the condition that they not be identified because the information is private.

That debt load is the equivalent of around 4.5 times Infra Group’s approximately ...