A report from The Telegraph said British theater group Ambassador could be bought by a private equity firm. Majority owner Exponent Private Equity was reportedly selling the majority stake it currently holds in the group. Private equity companies like BC Partners, Blackstone, Carlyle, Charterhouse, Lion Capital and Permira were also reported to potentially place their bids for the theater group. The report also said that a transaction could be completed in a few months.

Exponent Private Equity, headed by Chairman Greg Dyke, was said to be selling Ambassador Theater Group for GBP 350 million. The sale would be handled by UBS.

The Telegraph further reported that minority shareholders in the group would not be selling their holdings.

Sir Howard Panter and his wife Rosemary Squire founded the theater group in 1992. Four years ago, they sold a controlling stake to current owner Exponent Private Equity. According to a Sky News report, the shareholder agreement had a clause that could oblige minority owners to sell their stake to whoever buys the majority stake in Ambassador.