Apax Partners has dropped out of the auction for Interactive Data Corp. (IDC), the U.S.-listed financial data provider majority owned by U.K. publisher Pearson PLC (PSO), a person familiar with the situation told Dow Jones Newswires Wednesday.

Pearson, which also publishes the Financial Times newspaper and owns a large U.S. educational publishing business, hired Goldman Sachs (GS) in January to conduct a "preliminary review of strategic alternatives" for IDC in which it has a 61% stake.

This led to a sales process and the company shortlisted a handful of bidders earlier this month, people previously told Dow Jones Newswires.

Remaining bidders include McGraw-Hill Cos. (MHP) which is bidding alone and joint bids from Bain Capital LLC and Advent International Corp., and Hellman & Friedman LLC and Silver Lake Partners, people have said. U.S. buyout firm Kohlberg Kravis Roberts & Co. may also remain in the process and may have teamed up with another private equity firm, one person has said.

A representative for McGraw Hill declined to comment and a representative for Goldman Sachs wasn't immediately available to comment.

-By Marietta Cauchi, Jessica Hodgson and Melissa Korn; Dow Jones Newswires; 415 439 6455; marietta.cauchi@dowjones.com
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