Luxembourg’s national postal operator acquired the stake from its joint venture partner PagesJaunes Group, the French telephone directory publisher.
P&T, which has been an Editus shareholder since 1995, said it was increasing its holding as part of a strategy to develop and strengthen its activities aimed at professionals and consumers in Luxembourg.
PagesJaunes said it needed cash to pay off some of its debt, but in handing over a 38.92% stake in Editus, it kept hold of a 10.08% stake.
The deal was concluded as of 1st October.
P&T chief executive Claude Strasser, said the increased investment in Editus came on the back of “impressive progress” at the company in recent years.
“Owing to its range of activities, Editus is quite naturally part of P&T,” he said.
Editus
The postal operator said 94% of Luxembourg’s population use the paper and digital versions of Editus, with its websites “amongst the five most-visited websites in Luxembourg”, with more than 1.3m visits per month.
The company claims 13,600 customers for its added-value contacts products and services.
But, the business is currently in the process of steering away from its traditional printed reference directory towards more Internet and mobile platforms.
P&T said PagesJaunes would remain a shareholder via its Euro Directory subsidiary to support the move of Editus’ activities into the digital world.
The French company confirmed in a statement: “This sale is part of the commitment of PagesJaunes Groupe to reduce its indebtedness. However, the Group maintains its strategic partnership with P&T Luxembourg and will continue to provide its technology and know-how on Internet, to support the digital transformation of Editus.”
Hugues Langlet, the Editus chief executive, said: “We are delighted with P&T Luxembourg’s increase in shareholding, thereby enabling us to promote our Luxembourgish identity and, at the same time, allowing our professional and private customers to benefit from our various synergies in the P&T Group.”
Source: Post&Parcel/P&T Luxembourg/PagesJaunes
Tags: Luxembourg, P&T Luxembourg
