| |
VNU Consider Directories Sale
VNU is exploring strategic options for its Directories group, including a possible sale of the business, so that it can 'concentrate on its core marketing, media measurement and business information activities', which include ACNielsen and many others.
The group has retained Credit Suisse First Boston and Goldman Sachs as advisors for the process.
VNU World Directories employs around 2,200 people and produces telephone and Yellow-Pages directories in print, on-line and mobile formats. It is the market leader in the seven countries it covers - Belgium, The Netherlands, Ireland, Portugal, Romania, Puerto Rico and South Africa, with brand names such as Golden Pages, Gouden Gids, Pages d'Or, Páginas Amarelas and Pagini Aurii.
'The Directories group has played an important role in the growth and success of VNU. For the past six years, it has provided stability and generated strong cash flow, as we transformed VNU into a leading global information and media company', said Rob van den Bergh, Chairman and CEO of VNU. 'We now believe it is time to focus on our high-growth core marketing, media measurement and business information activities'.
At least half of the proceeds of any divestiture are earmarked for debt repayment to strengthen the group's balance sheet. The remainder will be invested in marketing, media measurement and business information activities.
VNU's web site is at www.vnu.com
|
