The Mercury

At least four bids for Allegro

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NASPERS was set to receive at least four bids for Allegro in a deal that could value eastern Europe’s largest auction website at up to $2.2 billion (R31.1bn), sources familiar with the talks said yesterday. The four bidders are expected to submit offers for “the Polish eBay” ahead of today’s deadline for first-round bids. The sources said Advent had teamed up with US private equity fund Hellman & Friedman; Apax Partners with Canada’s CPP Investment Board; Cinven with Permira; CVC Capital Partners with US buyout group General Atlantic. Permira, Cinven, Apax, Advent, H&F and General Atlantic declined to comment, while Naspers, CVC and CPP were not available for immediate comment. Advent and CVC have already invested in Poland. Naspers shares lost 0.3 percent to close at R2 448.64. – Reuters

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