Providence Equity Partners to acquire a majority stake in Groupe La Centrale from Axel Springer.

Providence Equity Partners, a private equity firm, agreed to acquire a majority stake in Groupe La Centrale, a car classifieds provider, from Axel Springer, a media production company. Financial terms were not disclosed. “We believe Groupe La Centrale is an outstanding business underpinned by best-in-class technology, which positions it well for continued leadership and innovation in the French auto classifieds market. Our investment is driven by our conviction that Groupe La Centrale’s well-known brands and capabilities present a significant opportunity for organic growth and service expansion," Karim Tabet, Providence Senior Managing Director.