Carlyle Group to aid in APN takeover

INDEPENDENT News & Media’s proposed buy-out of its Australian subsidiary company APN will be partly financed by the Carlyle Group, the US private equity house.

A failed bid to buy APN by Independent last year was only being backed by Providence Equity Partners. Independent has now brought Carlyle into the €2.3 billion bid.

The Carlyle Group is one of the world’s largest private equity firms and its heavyweight board is made up of former US presidents and other international leaders.