Reed Elsevier completes divestiture of RBI France

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London—Reed Elsevier Group has completed the sale of its French b-to-b media and professional services unit, Reed Business Information France, to funds managed by Edmond de Rothschild Investment Partners, BNP Paribas DĂ©veloppement and some officers of the company. This divestiture is the latest in Reed Elsevier's ongoing effort to improve its earnings by focusing on electronic formats and face-to-face conferences and exhibitions. Most of the company's RBI-U.S. unit was sold, through multiple transactions, when the strategy was announced in 2009. The Variety brand, originally retained, was purchased for $25 million by Penske Media Corp. in October. RBI France employs 476 people in France, Spain and Tunisia, and had revenue of $81.6 million in 2012, according to a statement from Reed Business Information.
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