Associated Newspapers disposal of Buy and Sell
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Wednesday 18 July 2007
Associated Newspapers Limited ("ANL") announced today the recent sale of B&S Limited ("Buy and Sell"), its Irish classified advertising title, for Euro 20 million on a debt and cash free basis to Naldin Limited, a company connected to the Boundary Group.
ANL has subsequently received several unsolicited enquiries from interested third parties regarding Loot Limited, its sister publication in the UK. In view of this, the Board of ANL has announced its intention to initiate a review of its options in respect of Loot, which may include a sale or retention and redevelopment of the business.
The print and online businesses of Loot in the UK were acquired by DMGT in 2001 and Loot is now a wholly owned subsidiary of ANL. Gazelle Corporate Finance Limited has been retained to advise ANL on its strategic options.
Enquiries:
Peter Williams, DMGT
020 7938 6631
Sarah Farley, Brown Lloyd James
020 7591 9610
Anthony Green, Gazelle Corporate Finance Ltd
020 7182 7228