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VNU Sells European Publishing Business to 3i
VNU says it will sell 'substantially all' of its Business Media Europe (BME) group to European private-equity and venture capital company 3i. Operations in the UK, the Netherlands, Spain, Italy, Germany and Belgium are included although France is still under discussion.
The agreement is subject to employee consultations and the usual regulatory procedures.
VNU announced on October 2 that it was to explore strategic alternatives for BME, including a possible sale. The strategic review did not include VNU Business Media U.S.A., or VNU Exhibitions Europe B.V., the group's joint venture with Jaarbeurs which has with activities in the Netherlands and China.
VNU BME is one of the leading b2b publishing companies in Europe, with wholly owned operating companies in the UK, Germany, France, Italy, the Netherlands, Belgium and Spain and specializing in such areas as technology, business and finance, and recruitment via more than 70 print titles and online properties such as IT news network VNUnet. It is online at www.vnubme.com . 3i focuses on buyouts, growth capital, venture capital and infrastructure and invests across Europe, the United States and Asia. Web site: www.3i.com .
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