NEW YORK, February 6 (FinanceEnquiry.com) - The Acto fund of Groupama is selling its 55 percent stake in holiday company Belambra. The French mutual insurer has also authorized investment bank Lazard (NYSE: LAZ) to close the transaction. According to undisclosed sources, Belambra, which had annual sales of €148 million in 2010, may be sold by the fund for approximately €200 million euros ($262 million). Acto is also expected to issue a prospectus for potential buyers in a week’s time.

Many funds are planning to show their interest in acquiring the former VVF Vacances business, which involves Fondations Capital, Sagard, PAI and Montefiore. Even the French holiday group, Pierre et Vacances Center Parcs, that showed an interest in Belambra during its 2006 privatization, is also expected to make an offer. In its 2006 privatization, Belambra was valued at €100 million, with annual sales of €145 million.