Expatica news

VNU sells telephone guides unit for EUR 2bn

27 September 2007

AMSTERDAM — Dutch information and media firm VNU has sold its telephone guides division for almost EUR 2.08 billion to World Directories Acquisition, a  consortium operated by Apax Partners and Cinven Limited.

The division — officially known as VNU World Directories — produces telephone books and a-z listings, both in print and on the internet. The division is active in seven countries, including the Netherlands, Belgium and South Africa.

VNU World Directories recorded turnover of EUR 492 million in 2003 and an operational profit of EUR 211 million. It employs 2,200 people, newspaper De Volkskrant reported on Monday.

The division has been up for sale for some time, with VNU keen to shed the guides to concentrate on its core activities, such as accumulating and selling media and marketing data and other business information.

The Amsterdam stock exchange-listed company employs about 38,000 people in more than 100 countries. About half of its total turnover or EUR 3.9 billion originates from North America.

[Copyright Expatica News 2004]

Subject: Dutch news