LONDON (Reuters) - London-based private equity firm Apax Partners said on Sunday it was considering making an offer for British car auctioneers BCA Marketplace (BCA.L).
“Apax confirms that it is in the early stages of considering an offer for BCA to be made by a new entity controlled by funds advised by Apax,” the firm said on Sunday, in response to a Sky News report.
Apax said under stock market rules it had until July 8 to make an offer or walk away. BCA had a market valuation of around 1.7 billion pounds ($2.3 billion) based on Friday’s close.
($1 = 0.7455 pounds)
Reporting by Paul Sandle; Editing by Keith Weir