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Vestar Capital Partners and Management to Acquire OGF Group; Represents Vestar''s fourth management buyout transaction in Europe over past 18 months.

Publication: PR Newswire
Publication Date: 19-JAN-04 		Format: Online - approximately 1011 words
Delivery: Immediate Online Access

Article Excerpt
PARIS and NEW YORK, Jan. 19 /PRNewswire/ -- Vestar Capital Partners announced today that it has signed a definitive agreement to acquire OGF Group, France's leading funeral services provider, from Service Corporation International . The enterprise value of the management buyout transaction is euro 300 million ($370 million). Vestar will lead an investment group that includes Philippe Lerouge, OGF's President and CEO, and participation by a large number of OGF's senior managers and employees. SCI will reinvest alongside of Vestar in the transaction and hold an approximately 25% ownership stake in the business. The transaction is expected to close in the first quarter of 2004, subject to receipt of regulatory approval and other customary conditions.

Founded in 1844, OGF is the number 1 player in the French funeral services market. The company generated over euro 500 million in sales in 2003 and employs approximately...

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