French investment house Eurazeo (RF.FR) Friday said it swung to a net loss in the first half of the year, weighed by the absence of capital gains, the loss of value in investment properties and the decline of results of its equity affiliates Rexel (RXL.FR) and Accor (AC.FR).

Eurazeo booked a net loss of EUR120.9 million in the first half versus a net profit of EUR243.1 million in the first six months of 2008.

"With our cash, the balance of available Danone (BN.FR) shares and the commitments of Eurazeo Partners, and our fully available line of credit, we are confident of our ability to support the development of the Group's companies, if needed, and to make new investments," Eurazeo said.

Eurazeo said it welcomed the French hotel group Accor's decision to consider separating its services and hotels businesses.

Eurazeo said its net asset value stood at EUR52.9 a share as of Aug. 27, versus EUR47.8 at the end of June. At the end of 2008, net asset value stood at EUR53.4 a share.

Company Web site: www.eurazeo.com

-By William Horobin, Dow Jones Newswires; +33 1 4017 1740; william.horobin@dowjones.com

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