Apax Partners Completes Acquisition of Trader Corporation from Yellow Media Inc.
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Goodmans represented Funds advised by Apax Partners in connection with the completion of its acquisition of Trader Corporation's automotive segment from Yellow Media Inc. The transaction, previously announced on March 25, 2011, was completed for a net purchase consideration of $708 million, net of expenses and estimated working capital, fees and other adjustments. Trader's automotive segment is comprised of Canadian automotive and generalist online properties including AutoTrader.ca, Autos.ca, AutoHebdo.net, and Buysell.com, as well as 74 related publications. In addition, Trader will retain its interest of approximately 30% in Dealer.com, the leading US digital solutions provider to the automotive dealer segment. Apax Partners is one of the world’s leading private equity investment groups. It operates across the United States, Europe and Asia and has more than 30 years of investing experience. Funds under the advice and management of Apax Partners globally total around $40 billion.