Vincent Tchenguiz and Apax make move for Trillium

Vincent Tchenguiz and Apax, the British private equity firm, have emerged as bidders for Trillium, the property management business put up for sale by Land Securities as part of a three-way break-up.
The Times has learnt that Mr Tchenguiz, the property tycoon, has approached Trillium through his Consensus Business Group. Apax is also understood to have expressed an interest in bidding for the business that provides outsourced property management services and is thought to be worth as much as £1.5 billion. Other suitors are believed to include Cinven, the UK buyout group, and funds runs by Macquarie, the Australian bank.
Francis Salway, the chief executive, and Paul Myners, the chairman, announced a strategic review of Land Securities - valued at £7.5 billion but sitting on £15.5 billion of assets - last September after its sagging share price forced their hand. In November they unveiled plans for a break-up into three separately quoted businesses and UBS was asked to sell Trillium.
Trillium owns and manages hundreds of offices and depots let on long-term contracts to many of Britain's biggest employers including the Department for Work and Pensions, Royal Mail, Norwich Union and the DVLA
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