VNU set for €320m sale of titles to 3i
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VNU, the Dutch publisher, was close to agreeing a €320m-plus sale of a group of European business magazines, websites and trade shows to 3i, the private equity group.
3i declined to comment but it is thought to have been one of the few bidders in an auction conducted by Goldman Sachs and The van Tulleken Company that was willing to buy the entire portfolio. VNU’s European assets include UK trade magazines such as Computing and Accountancy Age, and events such as the Holland Art Fair.
The most profitable and attractive business in the auction was the Intermediair career development title in the Netherlands, which has established a market leading position in print and a strong online presence. 3i has previously bought classified advertising titles with strong digital businesses.
People familiar with the auction cautioned that final agreements had yet to be signed, but a successful sale to 3i would mark VNU’s first large-scale disposals since a private equity consortium bought the publisher for €7.6bn in June.
Since then, VNU hired David Calhoun, the former vice chairman of General Electric, as chief executive, to focus on VNU’s core marketing services businesses, AC Nielsen and Nielsen Media Research, which both face challenges from changing technologies.
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