Security business Cobra’s shares rise amid reported Palamon buyout bid


car_enginePalamon Capital Partners could be in the market for Italian automotive security systems business Cobra, it has emerged.

Shares in the company rose seven per cent this morning following a local news report the firm had submitted a bid for the company to owner Intek Group.

The newspaper, Il Sole 24 Ore, said the offer was in line with the prevailing market price, but did not say where it got the information.

European private equity firm Palamon Capital Partners recently appointed a trio of new partners following a troubled 2013 which saw a staff exodus amid a limp fundraise.

Former principals Julian Carreras and Pascal Jean-Noel Noth and managing director Gary Pritchard have all been raised to the role after the firm lost three partners last year.

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