BELGIUM - Apax- and Cinven-backed Truvo looks at debt alternatives
Reports suggest that Apax Partners-backed European directories business Truvo (formerly VNU World Directories) has appointed Houlihan Lokey as financial adviser to help assess options on how to deal with its EUR 1.2bn debt pile, which could include a restructuring or a buy-back.
Apax and Cinven acquired VNU World Directories in August 2004 in a deal valued at approximately EUR 2bn. At the time JP Morgan led the debt syndicate which also included Bank of America, Credit Suisse and Goldman Sachs Private Equity.
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