Apax Close To 10% Sale

LONDON, Aug 12 (Reuters) – Private equity firm Apax [APAX.UL] is within days of selling a 10 percent stake in itself to sovereign wealth funds from Australia and Singapore and a Japanese investor, the Times reported on Tuesday.

The Australia Government Future Fund, the Government of Singapore Investment Corporation (GIC) and an undisclosed Japanese company have agreed in principle to invest several hundred million euros in Apax, the newspaper said, citing an unnamed senior source.

The transaction may value Apax at about 1.5 billion pounds ($2.9 billion), the Times said.

An Apax spokesman declined to comment.

Apax's investments include fashion brand Tommy Hilfiger, foreign exchange firm Travelex and directories business Yell. (Reporting by Eleanor Wason; Editing by David Holmes)