We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Apax Funds To Pay $762M For Yellow Media Unit

Law360 (March 25, 2011, 2:14 PM EDT) -- Yellow Media Inc. said Friday it has reached an agreement to sell its Trader Corp. unit to funds advised by Apax Partners for $762 million in cash as the Montreal-based Internet and listings company seeks to improve liquidity.

Proceeds from the sale will be used to reduce debt, Yellow Media said, adding that Standard & Poor’s and DBRS Ltd. confirmed its above-speculative grade credit ratings on company notes at the same time as the sale announcement.

Rating agencies had been warning investors about the company's risk...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.