Buyout firm targets Letts
12.11.07 | Philip Jones
Huveaux, the publisher of the Letts study guides, is in exclusive talks with buyout firm August Equity, reports the Telegraph.
Last month Huveaux announced it had received takeover bids from two unnamed companies. One of these, HG Capital, has retired leaving the path clear for August. John van Kuffeler, chairman of consumer loans business Provident Financial, floated Huveaux six years ago with the intention of creating a £1bn company within 10 years. But after two profit warnings that sent the share price into a tailspin, van Kuffeler now seems ready to cut his losses.