Dun & Bradstreet charts own course downunder

By Phil Boeyen, ShareChat Business News Editor

Wednesday 29th August 2001

Corporate information company Dun & Bradstreet has sold its New Zealand and Australian operations in a management buyout.

The US-listed company says the deal is due to the closed by the end of September and the new company will be called Dun & Bradstreet Australasia.

It is the first management buyout in the company's history, which CEO Allan Loren describes as an asset monetization opportunity designed to increase shareholder value.

Dun & Bradstreet began operations in Australia in 1888. It provides business-to-business credit, marketing and purchasing information and receivables management services in Australia and New Zealand, employing around 400 people in the two countries.

MD of the newly independent business, Christine Christian, says the buyout is a win-win both for the US-based company and the new business and future plans include an initial public offering of the business, currently targeted for 2004.

"D&B retains access to local data and DBA gains a solid, local financing partner which allow us to invest and grow our business aggressively in the local markets."

The local buyout has been led by the private equity team of AMP Henderson Global Investors.

Under the terms of the deal AMP Henderson will hold a 77.5% stake and local management will have 20%. D&B will retain a 2.5% equity stake in the acquiring company.

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