Linklaters and BCLP Advise On £1.9BN Car Auctioneer Deal
Car auctioneer BCA Marketplace is considering the offer from PE firm TDR.
June 25, 2019 at 04:41 AM
2 minute read
Linklaters and Bryan Cave Leighton Paisner (BCLP) are advising as car auctioneer BCA Marketplace considers a £1.9 billion buyout offer from private equity firm TDR Capital.
The offer is the latest for FTSE 250 company BCA Marketplace, after it rejected Apax Partners' £1.6 billion offer last year.
Last year, the company sold 219,000 cars through car sales website WeBuyAnyCar, and transported 2.2 million vehicles.
TDR Capital currently manages more than €8 billion worth of capital across three European buyout funds.
Magic Circle firm Linklaters is advising TDR Capital on the deal, with a team led by M&A partners Will Aitken-Davies and Iain Wagstaff, along with tax structuring partner Mavnick Nerwal.
Meanwhile, the team at BCLP – led by M&A partners Benjamin Lee and Nicholas Myatt – is advising BCA Marketplace on the offer.
Linklaters has advised on a number of significant deals so far this year. It acted for Rolls Royce as it agreed a deal to move £4.6 billion of its U.K. pension fund assets to insurer Legal & General. It also advised longstanding client Nestlé as it sought to sell its skincare unit for $10.2 billion.
Meanwhile, at the start of this year BCLP advised U.K. airline Flybe on its sale to Virgin Atlantic and Stobart Group.
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