Haversham Holdings, which Marwyn invested in on its listing last year, has been linked to a £1.2bn bid for British Car Auctions, the owners of the webuyanycar.com website.
An article in today’s Times says the two companies are in advanced talks. Haversham Holdings has confirmed that it is in “very advanced discussions which might lead to a transaction which would constitute a reverse takeover pursuant to AIM Rule 14” and it has asked that its shares be suspended from trading on AIM. They haven’t confirmed that British Car Auctions is the intended target. Haversham would have to raise additional finance to fund the deal, there is no indication yet of whether Marwyn would put up any more money.
UPDATE 26 March
Marwyn Value Investors LP is investing £10m as part of a £1bn equity fund raising by Haversham. Haversham will be renamed BCA Marketplace plc once the acquisition is complete.
MVI : Marwyn vehicle linked to webuyanycar.com