Apax Partners faces investigation

According to Dutch press reports, Apax Partners' management is the target of an investigation in the Netherlands. This is the result of its involvement with PCM, a Dutch publishing conglomerate it backed between 2004 and 2007. Newspaper unions filed a claim in the Amsterdam company court alleging that Apax left the holding in a worse financial position than when it had taken over in 2004. The court approved an investigation and has appointed two judges.

In March 2007 Apax sold its large minority stake to the Democracy and Media Foundation.

PCM Uitgevers is a newspaper publisher that also specialises in books on trade, professions and education. The organisation was formed via a 1995 merger between three organisations: Perscombinatie, Meulenhoff & Co and Nederlandse Dagbladunie.

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