The total value of private equity transactions completed in France increased to €1.4bn ($1.37bn) in the first half of 2002, up 20% on the same period last year, according to figures published by the Association Francaise de Capital Investissement (Afic).

Buy-out activity accounted for 63% of the deals, 24% higher than during the height of the technology asset boom in the first half of 2000, while the level of early stage investments and development capital deals fell by 24%.