Dutch-headquartered global publishing group VNU has announced it is to sell its Europe-based educational publishing and consumer magazine divisions, aided by investment banks Amro Holding, Merrill Lynch & Co. and Deutsche Bank.

VNU intends to use the funds accrued from the sale to help its $2.3 billion purchase of AC Nielsen [WAMN: 19-Dec-00].

News source: Advertising Age - Daily Deadline