In brief: NZ top online marketplace agrees to $1.7b takeover bid from UK firm

New Zealand’s top online marketplace Trade Me Group is set to be acquired by private equity investor Apax for NZ$2.56 billion (S$2.4 billion) after the British firm matched a rival offer.

Trade Me said on Wednesday it had entered an agreement with London-based Apax Partners, after the firm lifted its offer to NZ$6.45 per share, from NZ$6.40 in November, to match a competing bid by California-based Hellman & Friedman.

Source: The Business Times