Private equity investor Advent International said that it has agreed to sell UK parcel delivery firm Evri to funds managed by affiliates of Apollo.
The deal values Evri at 2.70 billion pounds ($3.47 billion), two sources familiar with the matter told Reuters.
In January, Reuters had reported citing sources that Advent was considering options, including a potential sale, for Evri, which delivers over 12 million parcels a week to UK e-commerce shoppers.
Advent holds a 75% stake in Evri and the remaining interest, held by Otto Group, will also be divested to Apollo as part of the transaction.
Advent said the deal is expected to close in the third quarter of 2024.
Source: Reuters.com