News & Events

The Firm is representing Apax Partners LLP in its announced agreement to acquire from Guardian Media Group (“GMG”), publisher of theguardian.com and the Observer newspaper, GMG’s interests in Trader Media Group (“TMG”), including a 50.1% equity stake in TMG. Financial terms of the agreement have not been disclosed.  The proposed acquisition of GMG’s 50.1% stake follows the original acquisition by Apax of their 49.9% stake (pre MIP dilution) in TMG from GMG in 2007.

TMG operates the UK's leading website and digital marketplace for motorists. TMG’s brands include: AutoTrader, Deltapoint, RAZSOR, 2nd Byte and Autotrade-mail.  AutoTrader is the UK's number one motoring digital marketplace with over 11.5 million monthly unique users, carrying out over 139 million searches on more than 360,000 new and used vehicles. Over 3.5 million people access AutoTrader via mobile devices every month through the mobile-optimised site and apps developed for iPhone, iPad and Android.

Simpson Thacher is advising on both the M&A and financing aspects of the transaction. The M&A team is led by Derek Baird, with support from Charles Leeming and Linford Coates. The finance team is led by Nick Shaw, with support from Kate Sinclair, Linn Mayhew and Richard Kiveal.