Jean-Pierre Savare, founder of the group, and his family would retain a minority stake of about 10 percent in the company. The transaction would be valued at 1.15 bn Euros. The proposed transaction requires workers’ council consultation and is subject to the approval of relevant market authorities. Pascal Stefani, Head of Advent International in France, said: “The Savare family has an outstanding track-record in this industry which we intend to build on. We look forward to participating in the development of a world-leading French technology business across all segments: payment, telecommunications, and identity.” Jean-Pierre Savare, President of Oberthur Group said: “Advent International’s expertise in technology, in particular in electronic payment, is proven. I am very confident in their ability to support the strategic growth of the Card and Identity activities.This project would be the next exciting phase in the history of our group, which would concentrate on its fiduciary activities.” Three principal avenues for growth will support the development of the company in the coming years: – The electronic payment sector benefits from growth in volume driven by emerging markets, as well as new developments in mature markets – In telecommunications, the company presents an innovative and attractive offer which should benefit from the strong development of NFC (near field communication) – In the Identity Division, the company is already a well established leader in secured documents with multiple uses (citizenship, healthcare, licences, conditional access) and has strong growth potential. Advent International would also support the company’s growth through potential external acquisitions that may further enhance the technological development and growth of the company. www.adventinternational.com www.oberthur.com