November 20, 2018 / 9:01 PM / 24 days ago

New Zealand's Trade Me gets $1.7 bln private equity bid

Nov 21 (Reuters) - Online marketplace operator Trade Me Group said on Wednesday it had been approached by British private equity player Apax Partners with a NZ$2.54 billion ($1.73 billion) takeover offer.

Apax was offering NZ$6.4 for each share of Trade Me, the company said in a statement. The offer represents a 25.5 percent premium to Trade Me’s last close of NZ$5.1. ($1 = 1.4723 New Zealand dollars) (Reporting by Ambar Warrick in Bengaluru)

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