Apax Partners buys stake in Trader Media Group

by Olivia Solon, Media Week 26-Mar-07, 10:00

LONDON - Guardian Media Group has sold a 49.9% stake in Trader Media Group, which publishes Auto Trader, to private equity firm Apax Partners.

The sale valued Trader at £1.35 billion, netting GMG around £675 million.

GMG announced its intention to sell a minority stake in the classified publisher last May.

This attracted unsolicited offers from private equity firms including CVC Capital, Candover and Blackstone Group.

Management consultancy Merrill Lynch advised GMG on the transaction.

GMG took control of Trader Media Group in 2003, paying £600 million for the 52% majority stake, valuing the group at £1.1 billion.

TMG publishes more than 70 classified titles including Auto Trader, Ad Trader, Biker Trader and Auto Freeway.

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