LONDON (Reuters) - U.S. private equity group Apollo Management has entered the bidding war for the trade magazine unit of Anglo-Dutch publisher Reed Elsevier Plc/NV (REL.L)ELSN.AS, reported The Observer newspaper on Sunday.
It said other private equity groups eyeing Reed Business Information (RBI) include Cinven CINV.UL, Candover CDI.L, Bain Capital, Texas Pacific (TPL.N) and Permira PERM.UL. Interest has also been shown by Gruner & Jahr, the publishing subsidiary of Germany’s Bertelsmann AG (BTGGg.F).
Bidders are expected to submit final offers in the region of 1 billion pounds ($1.8 billion) at the end of September, said the report.
No-one at Reed Elsevier could immediately be reached for comment.
Editing by David Holmes