SEEING YELLOW

Two major “yellow pages” exits show that timely investments in directory companies were good calls.

Another day, another directories deal. Last month, New York media merchant bank Veronis Suhler Stevenson and London-listed 3i Group succeeded in selling pan-European directories group Yellow Brick Road (YBR) to a private equity consortium led by Macquarie Capital Alliance for €1.825 billion ($2.3 billion) in cash.

The sale took place little more than a year after the two firms created YBR through a three-way merger in April 2004.

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