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Report: PE firms to bid for Scout24's car classifieds unit

A number of private equity firms, along with used-car dealing platform Auto1 Group GmbH, are expected to submit first-round bids for AutoScout24, German classifieds group Scout24 AG's cars unit, Reuters reported, citing people close to the matter.

According to the sources, buyout groups Permira Advisers Ltd., Apax, Carlyle Group LP and Hellman & Friedman LLC could offer between €2 billion and €2.3 billion, which includes debt, for Autoscout24, the newswire added.

Scout24 and the potential suitors declined to comment or were not immediately available for comment, according to Reuters. A Scout24 spokesman told the newswire that the company is still conducting a strategic analysis of its plans for AutoScout24.

Blackstone Group Inc. and Hellman offered to buy Scout24 in May, but their joint bid failed to secure at least 50% plus one share of the company. The partners opted not to extend the acceptance period of the offer.