World Directories buys Belgacom Directory Services
World Directories Group (“World Directories”), today announces that its subsidiary Promedia, the publisher of the Belgian Yellow Pages, has concluded an agreement under which Belgacom’s shares in Belgacom Directory Services (BDS) will be acquired by Promedia for a total amount of €284.5 million.
In parallel with the financial transaction concluded between Belgacom and Promedia, the parties have decided to continue their collaboration agreement, which provides that Promedia will continue to publish the White Pages. This agreement, which is a positive development for both companies, could eventually lead to new forms of cooperation between Belgacom and Promedia, notably in the audio and online directory assistance field.
Cinven and Apax acquired World Directories, one of the world’s leading directory publishers, in 2004 for a consideration of €2,075 million, from parent company VNU NV, the publicly-listed Dutch information and media business.
Cinven partner Brian Linden commented today:
“This is a very positive development. World Directories will gain approximately €27 million in EBITDA by acquiring BDS. The collaborative agreements between World Directories and Belgacom remain in place and provide a basis for further commercial opportunities to be discussed.”