Accueil > Secure Transactions News > TPG exits from Gemalto
Secure Transactions News

TPG exits from Gemalto

Thursday 18 March 2010

When it invested in Gemplus (now Gemalto) in 2000, Texas Pacific Group had been identified by the French Government as a threat for the company’s independence, and was suspected of trying to capture the company’s technology. In 2000, the investment fund had invested US$ 550 million (EUR 578 million by mid 2000) for 25% of Gemplus shareholder’s equity.

In June 2009, TPG sold 55% of its shares for EUR 160 million (cf. Smart Insights Weekly #09-23) to the French government sovereign investment fund “Fonds Strategique d'Investissement” (FSI). Combining June 2009 sale with the last one, TPG sold its investment for EUR 339.7 million, less than 60% of its 2000 investment value. However, computed in US Dollars, the result looks better: June 2009 sale yielded US$ 228 million, and this week sale US$ 247.5 million, giving a total of US$ 475.5 million, or 86.5% of TPG’s 2000 investment.