Carlyle Group and Welsh, Carson, Anderson & Stowe purchase Qwest's Yellow Pages Unit for USD7.05 billion; Deal is largest U.S. buyout since 1989.

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M2 PRESSWIRE-20 August 2002-QWEST: Carlyle Group and Welsh, Carson, Anderson & Stowe purchase Qwest's Yellow Pages Unit for USD7.05 billion; Deal is largest U.S. buyout since 1989 (C)1994-2002 M2 COMMUNICATIONS LTD RDATE:08202002 New York, NY - Global private equity firms The Carlyle Group (Carlyle) and Welsh, Carson, Anderson & Stowe (WCAS) today announced that they have agreed to purchase Qwest Communications' yellow pages directories business, known as QwestDex, for $7.05 billion.

This deal is the largest U.S. buyout since 1989. James Attwood, Carlyle Managing Director said, "This is a classic win-win transaction: It's great for our investors and helps Dick Notebaert and his team achieve their objectives of deleveraging the Qwest balance sheet...