Bridgepoint and AlpInvest readies Medica float

UK-based private equity firm Bridgepoint and Dutch buyout house AlpInvest have begun the listing of French retirement home operator Medica, despite volatile stock markets.

The firms have begun selling off their combined 92% stake in the company, and hope to raise up to €592m ($766m). The target is significantly lower than the €800m figure sources suggested in January when news of the planned listing broke.

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