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Simpson Thacher represented Apax Partners LLP on Apax Funds’ definitive agreement to acquire Baltic Classifieds Group, a portfolio of leading online classified advertising platforms in the Baltics. The stake will be acquired from Media Investments & Holding OÜ, a Baltic-based media business. The transaction is expected to close in Q3 2019, subject to regulatory approvals. Financial terms were not disclosed.

BCG operates Autoplius.lt, Aruodas.lt, Skelbiu.lt, CVBankas.lt, KV.ee, City24.ee, City24.lv, Osta.ee and Soov.ee, leading online classifieds platforms for automotive, real estate, jobs and general merchandise. BCG’s portals are some of the most visited websites in their respective countries, generating more than 50 million monthly visits in aggregate.

The London-based Simpson Thacher team was led by Derek Baird and Associates Charles Leeming, Leo Rifkind, Pieter Lavens and Harris Kaufman (M&A). Kate Sinclair and Jason Lim are advising on the debt financing.