Ardian selling stake in French caterer to management

Target: Newrest

Price: Undisclosed

Sponsor: Ardian

Buyer: Company management

Ardian said that the stake sale of Newrest, which provides catering for France’s high speed trainline SNCF, would be accompanied by a new minority stake purchase in the company from its co-investment arm.

Ardian originally invested in Newrest in 2009.

Freya Berry is a correspondent for Reuters in London.