U.K. buy-out group Apax Partners is in talks to sell Hit Entertainment to Mattel, Financial Times reports. The world’s largest toy company, which makes Barbie dolls, is likely to pay a total of £500 million for the acquisition.
Mattel is close to finalizing the purchase of the children’s media group which would give it another opportunity for growth in emerging markets. The sale of Hit is being run by Bank of America Merrill Lynch. Apax acquired Hit in 2005 by paying £489 million.
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