Apax exploring options out of Rhiag, report says

15th Jul 2015 16:47

(ShareCast News) - Equity firm Apax wants to cash out of Italian auto parts distributor Rhiag for $1.1b, sources have told Reuters.The above publication reported Apax wants to explore a stock market listing or sale of Rhiag.Apax had bought Pero headquartered Rhiag in 2013 for an undisclosed amount.Apax wants to take advantage of high industry valuations and growing investor apppediate for merger and acquisition deals in Italy, sources said.