07 03 2016

Apax Funds Sell £852.8 Million of Shares in Auto Trader

Simpson Thacher represented Apax Partners LLP on the block trade sale by Crystal A Holdco S.à r.l. and Crystal B Holdco S.à r.l. (entities indirectly wholly owned by Apax Europe VII) of, in aggregate, 233,633,279 ordinary shares in Auto Trader Group plc (the “Company”).


The secondary offering, which was effected by way of an accelerated book build, has raised, in aggregate, gross sale proceeds of approximately £852.8 million. Settlement will take place on February 26, 2016, subject to the satisfaction or waiver of certain customary conditions. Deutsche Bank AG, London Branch and Merrill Lynch are acting as joint bookrunners in connection with the placing. Earlier last year the Firm advised the company and Apax Partners LLP in connection with the company’s initial public offering and its admission to the London Stock Exchange. The London-based Simpson Thacher team included Derek Baird (Picture) and Charles Leeming (UK Corporate); and Gregory Conway and Noam Katz (US Corporate). Involved fees earner: Derek Baird - Simpson Thacher & Bartlett; Charles Leeming - Simpson Thacher & Bartlett; Gregory Conway - Simpson Thacher & Bartlett;

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