Apax targets remaining stake in Trader Media Group


London-based buyout heavyweight Apax Partners has reportedly expressed an interest in acquiring the remaining half of Trader Media Group it does not already own.

Trader Media, which owns car classifieds company Auto Trader, is jointly owned by Guardian newspaper publisher Guardian Media Group and Apax Partners.

Apax has expressed an interest in buying out the remaining stake in the business, in a deal that would value the company at £1.6bn including net debt of £600m, the Financial Times reported.

The FT quoted a person close to GMG as saying GMG was unlikely to sell the stake.

The company posted EBITDA of £142.9m for the year ending in March.

Apax bought a 49.9 per cent stake in the business in 2007, in a deal valuing the company at £1.35bn.

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