July 6, 2018 / 6:21 AM / 2 months ago

Apax drops interest in car auctioneer BCA

July 6 (Reuters) - Apax Partners does not intend to make further offers for UK used car auctioneer BCA Marketplace after the WeBuyAnyCar owner rejected two acquisition proposals, the companies said in separate statements on Friday.

“The board of BCA concluded that the proposals undervalued the company and its attractive prospects. Accordingly, the board of BCA unanimously rejected the proposals,” BCA Marketplace said in a statement.

Apax Partners said separately that neither it nor any funds advised by Apax now intended to make an offer for BCA. (Reporting by Noor Zainab Hussain in Bengaluru; editing by Patrick Graham)

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