Apax, EQT Prepare $1.66 Billion Offer for Takko

Private equity firms Apax Partners and EQT are each preparing to offer 1.25 billion euros ($1.66 billion) for German discount clothing retailer Takko, Reuters reported. Takko is currently owned by buyout shop Advent International. The price of the offer is roughly 10 times earnings before interest, tax, depreciation and amortisation, Reuters said. Rival private equity firms TPG Capital and PAI were previously in the running for Takko, but dropped out, Reuters said.

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