Private Equity
FRANKFURT/LONDON -Providence Equity Partners has entered exclusive talks to buy French automotive data firm A2Mac1 for about 1.4 billion euros ($1.36 billion), clinching one of Europe's rare private equity buyouts in a tough financing market, two sources told Reuters. Providence signed an exclusive agreement with A2Mac1's owner Five Arrows Principal Investments last night, trumping rival bids from buyout funds EQT and TA Associates, the sources said. Five Arrows, advised by Harris Williams and Jefferies, will retain a minority stake in the business, the sources said.