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Investing.com -- Private equity firm Cinven is close to acquiring French data services company Artefact in a deal valuing the business at approximately €1 billion ($1.2 billion), according to a report from Bloomberg, citing people familiar with the matter.
Cinven is finalizing the purchase of the Ardian-backed company after outbidding competing private equity firms, said the sources, who requested anonymity as the information is confidential.
While negotiations between Cinven and Ardian are at an advanced stage, the deal could still fall through, the sources cautioned. A Cinven representative declined to comment, and an Ardian spokesperson did not immediately respond to requests for comment.
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