Apax near $1.7 billion deal for Germany’s Takko: report

LONDON (BestGrowthStock) – Apax (APAX.UL: ), the private equity firm, is nearing a deal to buy German clothing retailer Takko from rival Advent International for about 1.3 billion euros ($1.7 billion), the Wall Street Journal said on Monday.

Citing people familiar with the matter, the WSJ said Apax had been given until Thursday to hold exclusive talks with Takko and a deal was likely by then.

On Friday Reuters reported Apax and Swedish rival EQT were both preparing binding bids for Takko.

Advent had no immediate comment. Apax did not immediately respond to a request for comment.

($1=.7599 Euro)

(Reporting by Quentin Webb; Editing by Hans Peters)

Apax near $1.7 billion deal for Germany’s Takko: report