BC Partners eyes £68.6m from 7.8% Foxtons stake sale


real estate2_lrgEuropean private equity major BC Partners is said to be selling a 7.8 per cent stake in UK estate agents Foxtons eight months after the company listed on the London Stock Exchange.

BC will raise £68.6m from the sale according to Reuters, which cited two sources familiar with the matter.

It said the sale was being run by Credit Suisse and Numis.

Foxtons prices its London listing at the top of its range last September, valuing the company at £649m.

The IPO raised £335m for exiting shareholders, Reuters said, with £55m of new shares sold towards the reduction of the company’s debt.

BC Partners was first said to be seeking a public listing for Foxtons in June 2013.

The firm first bought into Foxtons for £360m in 2007, though lenders took control of the company three years later in the midst of a property crash.

It then reinvested in the company and regained majority ownership last year.

The London-based firm hit its €6.5bn hard cap for its latest fund last year.

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