UK's Pinewood surges on $792 million deal talks with Apax Partners (updated)
30/01/2026 08:43
Adds details from paragraph 2 Jan 30 (Reuters) - Britain's Pinewood Technologies PINE.L surged as much as 28% on Friday after the automotive service provider said it was set to agree a 575.5 million pounds ($792.06 million) deal with Apax Partners if the private equity firm tables a formal offer. Apax Partners, which has made a number of approaches earlier, proposed to buy Pinewood for 500 pence per share, representing a premium of nearly 30% to the stock's closing price on Thursday. The jump in Pinewood's shares made the firm the top gainer across all London stocks .FTAS on Friday. Pinewood Technologies provides a cloud-based platform to help car dealerships and manufacturers manage everything from vehicle sales and customer relationships to repairs and accounting. Apax has until February 26 to announce a firm intention to make an offer or walk away. ($1 = 0.7266 pounds) (Reporting by Nithyashree R B in Bengaluru; Editing by Sonia Cheema and Janane Venkatraman) ((NithyashreeRB@thomsonreuters.com;))