Banks and Private Credit Vie for €2.5 Billion Diot-Siaci Funding

Banks and private credit funds are competing with each other to provide as much as €2.5 billion ($2.9 billion) of debt to insurance broker Diot-Siaci Group, people with knowledge of the matter said.

The company is raising debt as Ardian, a Paris-based buyout firm, is in exclusive talksto buy Ontario Teachers’ Pension Plan’s stake. If the deal goes ahead, Ardian will co-control Diot-Siaci in a 50/50 split with the founders of the business, according to the people, who weren’t authorized to speak publicly on private negotiations.

A spokesperson for Ardian declined to comment. Diot-Siaci didn’t immediately respond to ...