BCE TO SELL BELL CANADA DIRECTORIES BUSINESS
By Adnews Staff
Montreal-based BCE is selling its Bell Canada directories business to private investment firm Kohlberg Kravis Roberts & Co. and Teachers' Merchant Bank, the private equity division of the Ontario Teachers' Pension Plan, for $3 billion in cash. The sale is expected to close by the end of November. It includes 209 white pages and yellow pages directories in Ontario and Quebec and the yellowpages.ca, toll-free and Canada 411 directories. BCE will acquire a 10% interest in the new company and a seat on the board of directors. Kohlberg Kravis Roberts will own 60% of the venture and Teachers' Merchant Bank will own the remaining 30%.
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