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S&P: VNU unchanged
Standard & Poor's said that the announcement by VNU Group BV (B/negative/B) that it is to bid for the 39.5% stake in Net Ratings Inc. that it does not already own will have no impact on the ratings and outlook.
The agency noted that the price of $16.00 per share puts VNU's total cash outlay at just more than $230 million, of which $180 million is expected to be absorbed by the net cash balance at Net Ratings.
The subsidiary has no debt, S&P said, adding that the remainder of the purchase price is expected to come from VNU's existing bank facilities, where provisions have been made in anticipation of this transaction.
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