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TMCNet: Cerberus Capital Management to acquire AT&T Advertising Solutions and AT&T Interactive

[April 10, 2012]

Cerberus Capital Management to acquire AT&T Advertising Solutions and AT&T Interactive

Apr 10, 2012 (Datamonitor Financial Deals Tracker via COMTEX) -- An affiliate of Cerberus Capital Management, L.P., a private equity firm, has agreed to acquire AT&T Advertising Solutions and AT&T Interactive, Inc. from AT&T, Inc., a provider of telecommunication services, for approximately $750 million in cash. All the parties are based in the US.


As part of the transaction, AT&T will receive a 47% equity interest in the new entity, YP Holdings LLC (YP).

The transaction includes assets of AT&T Advertising Solutions, which delivers sales and customer support, and AT&T Interactive, which conducts interactive product development. It does not include the recently formed AT&T AdWorks, a US-based operation that sells advertising offerings across 3-screen platforms (online, mobile and TV).

The transaction is expected to close in mid-year 2012.

Rumor (March 8, 2012): According to Bloomberg, Cerberus Capital is in talks to acquire a majority stake in yellow pages unit of AT&T in a transaction that values the entire yellow pages business at approximately $1,500 million.

Citigroup, Inc. and Bank of America Corporation are acting as financial advisors to AT&T.

Deal Value (US$ Million) 750 Deal Type Private Equity Sub-Category None Deal Status Announced: 2012-04-09 Deal Participants Target 1 (Company) AT&T Advertising Solutions Target 2 (Company) AT&T Interactive, Inc.

Vendor (Company) AT&T, Inc. (formerly SBC Communications, Inc.) Deal Rationale The transaction enables AT&T to focus on its core strategy of leadership in wireless, IP, cloud- and application-based services.

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