Doughty Hanson is seeking options for Spanish bus and coach operator, Avanza, The Wall Street Journal reports. The U.K. private equity group has appointed JPMorgan Chase to review options.

The options may include a refinancing or outright sale of the business through a public flotation or private sale. Arriva, Stagecoach and National Express, CVC, Carlyle, Bridgepoint, Apax, Advent International, Permira and Blackstone could be the potential bidders in the sale, adds Reuters.

Click here for the story from The Wall Street Journal.