HgCapital has hired Jefferies Group Inc. to look for buyers for its Mercury Pharma business in a deal that could be valued at more than 350 million pounds ($565 million), the Sunday Times reported, without saying how it obtained the information.

HgCapital acquired Mercury, previously known as Goldshield, in a 179 million pound management buyout in 2009, the newspaper said. HgCapital declined to comment, the Times reported.

To contact the reporter on this story: Thomas Biesheuvel in London at tbiesheuvel@bloomberg.net

To contact the editor responsible for this story: John Viljoen at jviljoen@bloomberg.net