KAR Auction Services Inc. (KAR) has sounded out private equity firms on a potential leveraged buyout, Reuters reported Wednesday citing two people familiar with the matter.
The people said the deal would top $4 billion, according to Reuters.
Goldman Sachs Capital Partners, Kelso & Co., Parthenon Capital LLC and ValueAct Capital LLC together own about 78% of the vehicle auction company and they have spoken to other buyout firms about selling KAR, the people told Reuters.
Full story at http://www.reuters.com/article/2012/08/22/us-kar-auction-idUSBRE87L0YD20120822
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