Case No COMP/M.3601 - APAX / CINVEN / WORLD DIRECTORIES

Only the English text is available and authentic.

REGULATION (EC) No 139/2004 MERGER PROCEDURE

Article 6(1)(b) NON-OPPOSITION Date: 18/11/2004

In electronic form on the EUR-Lex website under document number 32004M3601

Office for Official Publications of the European Communities L-2985 Luxembourg

COMMISSION OF THE EUROPEAN COMMUNITIES

Brussels, 18-XI-2004

SG-Greffe(2004) D/205256

MERGER PROCEDURE ARTICLE 6(1)(b) DECISION

SIMPLIFIED PROCEDURE

PUBLIC DECISION

To the notifying parties

Dear Sir,

Subject: Case No. COMP/M.3601 ñ APAX/CINVEN/WORLD DIRECTORIES Notification of 20 October 2004 pursuant to Article 4 of Council Regulation (EC) No. 139/2004 Publication in the Official Journal of the European Union No. C 263, 26 October 2004, page 6.

1.On 20 October 2004, the Commission received notification of a proposed concentration pursuant to Article 4 of Council Regulation (EC) No. 139/2004 by which the undertakings Apax Europe V controlled by the Hirzell Trust (ìApaxî, Guernsey) and Cinven Limited belonging to the Cinven group (ìCinvenî, UK) acquire within the meaning of Article 3(1)(b) of the Council Regulation joint control of the undertaking VNU World Directories Inc. (ìWorld Directoriesî, US) by way of purchase of shares.

The business activities of the undertakings concerned are:

-- for undertaking Apax: investment funds;

-- for undertaking Cinven: venture capital business;

-- for World Directories: publication of yellow pages directories and telephone books in printed, on-line and mobile phone format.

2.After examination of the notification, the Commission has concluded that the notified operation falls within the scope of Council Regulation (EC) No. 139/2004 and of paragraph

1OJ L 24, 29.1.2004 p. 1

Commission europÈenne, B-1049 Bruxelles / Europese Commissie, B-1049 Brussel - Belgium. Telephone: (32-2) 299 11 11.

5(b) of the Commission Notice on a simplified procedure for treatment of certain concentrations under Council Regulation (EC) No.139/2004.

For the reasons set out in the Notice on a simplified procedure, the Commission has decided not to oppose the notified operation and to declare it compatible with the common market and with the EEA Agreement. This decision is adopted in application of Article 6(1)(b) of Council Regulation (EC) No. 139/2004.

For the Commission Mario MONTI Member of the Commission signed

2Available on DG COMP website: http://europa.eu.int/comm/competition/mergers/legislation/consultation/simplified_tru.pdf.

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