Apax in lead on Emap B2B publishing arm

Apax, the private equity firm, is leading the race to buy troubled media group Emap’s business-to-business publishing arm.

Apax is part of a four-way struggle for the group, with private equity groups Permira, Cinven, Candover, and Providence. Cinven and Candover are bidding jointly for the arm, which is expected to be valued at around £1.4bn (US$2.9bn).

The four private equity firms will post their second round bids for the division. The Sunday Express reported, without citing sources, that the value of the arm may be reduced if the group’s corporate entity is included in the package.