Business Services Industry

Evening Standard, London, Business Briefs Column.

Knight Ridder/Tribune Business News, June, 2003

Evening Standard, London Knight Ridder/Tribune Business News

Jun. 11--BIDDERS CLOSE ANGLO-ITALIAN DIRECTORIES DEAL: Europe's largest venture capital buyout was completed today as three British bidders allied to an Italian partner shelled out euro5.65 billion (UKpound 3.99 billion) for Telecom Italia's majority stake in directories publisher Seat Pagine Gialle.

BC Partners, CVC Capital Partners, Permira and Italy's Investitori Associati will acquire Telecom Italia's 61.5 percent stake. The consortium takes on euro708 million debts.

The consortium beat off bids from three other groupings including funds such as Carlyle Group, Kohlberg Kravis Roberts and Hicks, Muse, Tate & Furst.

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