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VNU Completes Directories Sale
VNU has announced the completion of the sale of its World Directories group to World Directories Acquisition Corp., a legal entity owned by funds advised by Apex Partners Worldwide LLP and Cinven Limited, for EUR 2,075 million.
The agreement for the sale was previously announced by VNU on September 27, 2004. VNU says it remains committed to using at least half of the proceeds from this divestiture to repay debt, although speculation about the destination of the other half / remainder has been intense with a number of major agencies rumoured as acquisition targets.
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