Guardian Media Group to Sell 50.1% Stake in Trader Media Group
Posted: 1/22/2014 | By: Jason Deans | The Guardian
Guardian Media Group is selling its 50.1% stake in Auto Trader owner Trader Media Group to private equity firm Apax Partners in a deal thought to be worth £600m to £700m to the Guardian publisher.
The sale to Apax, which bought 49.9% of Trader Media Group in 2007 and has been GMG's joint venture partner in the business since then, is thought to give TMG an enterprise value of about £1.8bn. The exact financial details of the deal were not revealed.