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Blackstone to acquire stake in French dark fiber company Sipartech

Blackstone Group Inc., through Blackstone Tactical Opportunities Advisors LLC, agreed to buy a stake in Sipartech SA, which provides telecommunications infrastructure solutions in France with a focus on dark fiber.

The private equity giant said the stake is being sold by growth equity investor Summit Partners LP.

Summit, alongside Sipartech Founder, CEO and majority shareholder Julien Santina, invested in the business in 2016. Sipartech operates more than 3,000 kilometers of fiber across France.

Freshfields Bruckhaus Deringer LLP advised Blackstone on the deal, which is set to close in late 2019, pending regulatory approval.

Lazard Frères & Co. and Paul Hastings LLP advised Sipartech, while Latham & Watkins LLP advised Summit Partners.