Reed to offer loan to magazine buyers

<p>Reed Elsevier has been forced to offer a loan to would-be buyers of its &pound;1bn-plus business magazines division in an attempt to kick-start an auction of the unit behind <em>Farmers Weekly</em> and <em>Publishers Weekly</em>, notes the Times.<br /><br />This week the electronic information giant began to send out non-disclosure agreements for interested parties to sign after it managed to arrange enough loans that could be used by a potential buyer. However, it could not persuade banks to provide enough financing that would be attractive to a private equity group - by far the most likely buyer of the business. It has been forced to offer its own top-up loan to sweeten the deal.<br /><br />Reed has been trying for several weeks to arrange a financing package to begin an auction process that was first announced in February. <br /><br /><br /></p>