APN sells New Zealand online directory arm
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APN News and Media Limited has sold New Zealand-based Online business directory FindA.co.nz to New Zealand Yellow Pages business Yellow, for an undisclosed sum.
The sale includes the Finda, Wises maps, menus.co.nz, UBD and APNData businesses.
Fifty percent of Finda.co.nz was acquired by APN in 2006 with the balance acquired in 2008.
Brendan Hopkins, CEO of APN said: "Whilst we remain committed to growing our Online business, we will continue to take advantage of opportunities to realise value for non-core assets as they arise."
APN will retain the Finda name for Australia.
- Reuters
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