European Directories’ acquisition of Truvo Netherlands approved by Dutch Competition Authority
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NMa has approved the merger of De Telefoongids and Gouden Gids Combination will deliver benefits to advertisers and users Enterprise value EUR 290 million
London / Amsterdam 29 August 2008 - Today the Netherlands Competition Authority (NMa) has approved the acquisition by European Directories SA (publisher of De Telefoongids) of Truvo Nederland BV (publisher of Gouden Gids).
The Boards of European Directories and Truvo are very pleased with this decision which reflects the overwhelming support for the merger from users and advertisers. The combination fulfils the next step in the growth strategy of De Telefoongids BV. The new combined business will be a major force in the rapidly developing market for search advertising across multiple media platforms-including print, internet, and mobile, 24 hours a day, 7 days a week.
The approval by the NMa comes after an extensive consultation process which demonstrated support for the merger from both users and advertisers. ”Users will benefit from a product portfolio which offers more information in one comprehensive source. Advertisers will reach a larger group of users and will receive a higher return on investment from their advertisement program”, says Cornel Riklin, CEO European Directories.
The product portfolios will be combined during the course of 2009 and the integration of both companies will start as soon as possible.
Closing of the transaction is planned for September 2008.
Fore more information contact European Directories
Werner van Bastelaar Director Financial Communications Edelman Amsterdam + 31 20 30 10 980
About De Telefoongids BV De Telefoongids BV consists of several different businesses and brands; amongst others DeTelefoongids, Suurland Outdoor, City & Tourist Promotions (local government guides) and LokaalTotaal (local guides). De Telefoongids BV is a leading provider of directory services in the Netherlands. Besides the annual publication of free regional guides and local guides to all households and companies in the Netherlands, De Telefoongids can be consulted via; www.detelefoongids.nl, It offers the 1888 number information desk, SMS 1313, Siemens home phone, Nokia local search, Google Earth and mobile route planners (FalkMobile and KPN on route). The head office of De Telefoongids BV is located in Amsterdam.
About European Directories European Directories is a geographically diversified directories group, holding the number one or strong positions in several markets across Europe including The Netherlands, Finland, Denmark, Poland, Austria, Czech Republic, Sweden, Gibraltar and Slovakia. We have around 4,000 employees and over 700,000 customers. EDSA connects buyers and sellers by providing directory services through phone books (white/yellow pages style), the internet, directory assistance and mobile phones. Day-to-day operations are conducted at a country level by operating companies which are located in each of the countries. A small Group Office located in London co-ordinates key initiatives across the Group and promotes best-practice behavior amongst the operating companies.
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