Apax Plans to Hand Over Marken to Lenders

Private equity owner Apax will hand over British medical courier Marken to lenders this week, losing 600 million pounds ($972 million) of the investment it made in the company three years ago, Reuters reported. The lenders will take over the business in a so-called pre-pack administration process - a pre-arranged debt restructuring through the UK court - which is expected to take place by Friday. Marken, which ships vaccines and blood from clinical trials around the world, has struggled with too much debt and a drop in earnings, Reuters wrote.

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