News Corp, Axel Springer looking to buy Acuris - report
News Corp. and German publishing company Axel Springer are among a number of companies that are considering acquiring Acuris, the Financial Times reported on Tuesday citing sources familiar with the matter.
The newspaper reported that an auction for the sale of the owner of Mergermarket and the Debtwire news and data service would officially commence this week. It is expected to fetch more than £1 billion and has also drawn in rating agencies such as Fitch and S&P Global and buyout groups such as KKR and Advent International. However, the sources added that it was too early to state which company was in pole position to acquire the business.
BC Partners previously bought Acuris from Pearson for £382 million. Its value subsequently more than doubled after Singapore's GIC purchased a 30% stake in the business for around £1 billion. Acuris has also recorded double-digit growth since its acquisition by BC Partners and has annual earnings before interest, tax, depreciation and amortization (EBITDA) of £75 million, according to a source with direct knowledge of its performance.