Cinven, the large European buy-out house, has finally completed the acquisition of the health and business publishing units of Vivendi Universal, the French media firm, for €1.2bn ($1.1bn), eight months after striking an initial agreement to buy the units.

Cinven has bought a majority stake of 37.5%, and Vivendi has retained a 25% stake. Cinven led the deal alongside private equity investment partners Carlyle Group and Apax Partners, which own 28% and 9.5% stakes, respectively. The deal was worth €1.2bn, with an additional consideration dependent on the future performance of the businesses, a far cry from the €2bn price tag that it carried last October.