Foxtons has become the latest estate agency to attract the attentions of 3i, the stock market-listed private equity group. 3i is preparing to join an auction for the London agent this week, a month after its failed backing for a £970m management buyout at Countrywide.
Foxtons, founded by entrepreneur Jon Hunt in the early 1980s, had been looking at a flotation valuing it at between £300m and £400m. But interest from private equity and rivals prompted advisers Credit Suisse to conduct an auction.

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Posted: 02|27|07 at 9:37 am. Filed under: UK News.