Apollo and Platinum Bid for Package Firm Evri, Sky News Reports

Apollo Global Management Inc. and Platinum Equity LLC are among bidders for UK package delivery company Evri Ltd., Sky News <-bsp-bb-link state="{"bbDocId":"SFJ6VMMB2SJL","_id":"00000190-4538-d497-a7fb-ed3dc2b00000","_type":"0000016b-944a-dc2b-ab6b-d57ba1cc0000"}">reported citing unnamed sources.

The private equity firms have submitted initial offers for Evri, which is said to be worth about £2 billion ($2.5 billion). The auction is run by Rothschild & Co. and has also attracted a number of strategic bidders, Sky said.

Evri, one of the UK’s biggest package companies, is owned by Advent International LP and has an almost 20% market share, delivering more than 700 million parcels a year, according to Sky.

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