Towergate to sell minority stake to private equity firm, according to reports
Towergate founder Peter Cullum is in talks to sell a 25% stake in his business to a private-equity group in a deal that will value his company at more than £3bn, according to reports.
According to The Sunday Times he is planning to sell part of his company, Towergate, to the buyout firm Candover. It becomes the latest private equity group to be linked to the company.
Last year the likes of Blackstone were strongly linked with the consolidator.
The Sunday Times claims that if completed, after the Candover investment Mr Cullum will still control significantly more than half of the group.
At present he is estimated to own 70% of the business. It adds some of the £850m to be
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