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JAN 03, 2014 - TheStreet

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The Deal: Cox Buys Back AutoTrader Stake For $1.8B

NEW YORK (TheStreet) Providence Equity Partners is selling its stake in online car retailer AutoTrader Group back to media conglomerate Cox Enterprises for about $1.8 billion, a source told The Deal. The private equity firm, which bought a 25% stake in 2010 from Cox, will have a return of about 3 times the $640 million it invested, or an IRR of 38%, the source said. The transaction values Atlanta-based AutoTrader Group at about $7 billion. After Providence's investment, AutoTrader built itself up with a number of M&A transactions, including taking a 21.8% stake in Chinese online car ... Read More

Tags: The Deal: Cox Buys Back AutoTrader Stake For $1.8B,  Baidu Latest News