The planned flotation of the Trainline has been stopped in its tracks after the online rail-ticketing company accepted an offer from global investment firm KKR.
According to The Times, the two parties had been talking since Christmas and discussions continued after the Trainline announced plans for a stock exchange listing.
KKR would not disclose the price it paid but it is believed to be close to the estimated flotation value of £500 million.
Trainline chairman Doug McCallum said: "Our vision is to transform Trainline into a leading international e-commerce platform and an indispensable partner of the smartphone-enabled digital mobility landscape. We are excited to be able to accelerate this journey with an experienced and global investment partner like KKR."
