Guardian raises £600m from Auto Trader sale

Tuesday 21 January 2014 17:36 GMT

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The owner of The Guardian has collected a £600 million-plus windfall from selling its 50.1 per cent stake in car classifieds brand Auto Trader to private equity firm Apax Partners.

Guardian Media Group’s long-rumoured sale of Auto Trader’s parent company, Trader Media Group, should guarantee the future of the loss-making flagship paper in the next decade.

Those close to GMG said the cash would transform its balance sheet and continues a pattern of selling assets including the Manchester Evening News and Smooth Radio.

Apax bought 49.9 per cent of Trader for £675 million in 2007.

Today’s sale is said to be in the range of £600 million to £700 million.

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Guardian raises £600m from Auto Trader sale

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