Apax in early stages of Trader Media sell-off

Apax in talks over appointing a bank to lead a float or sale as early as next year or some point in

Private equity group Apax and Guardian Media Group are understood to in the early stages of a sell-off of Trader Media Group.

Apax bought a 49.99 per stake in the publisher of Autotrader in a deal which valued the business at 49.9 per cent in March 2007.

According to the Sunday Telegraph, Apax is in talks over appointing a bank to lead a float or sale as early as next year or some point in 2012. Any deal would see GMG cash in on its remaining Trader stake at the same.

A GMG spokesman said: "Trader Media Group is a very strong business and well advanced in its digital transition, which makes it a valuable asset for GMG. No decisions have been made about either the timing or nature of our exit from this investment."

 

Dominic Ponsford is Editor of Press Gazette.