Guardian goes Auto for £675m

The Guardian’s parent company is set to make around £675m from the sale of a minority share of Trader Media Group.

The firm publish Auto Trader, which is the largest selling motoring magazine and the second largest selling weekly magazine in Ireland.

The Guardian Media Group are currently sole owners of ATM and have agreed to sell a 49.9% stake to private equity investment group Apax Partners. Media Guardian is reporting the deal values the company at £1.35bn.