KAR Auction in Early Talks on Leveraged Buyout -Reuters

Date : 08/22/2012 @ 4:24PM
Source : Dow Jones News
Stock : Goldman Sachs Grp. (The) (GS)
Quote : 223.8  -2.01 (-0.89%) @ 7:01PM

KAR Auction in Early Talks on Leveraged Buyout -Reuters

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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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