UPDATE 3-Nielsen to sell expositions business to Canadian PE firm for $950 mln

Mon May 6, 2013 2:07pm EDT
 
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* Onex Partners III will make equity investment of about $350 mln

* Termination fee set at $61.75 mln

* Deal expected to close in second quarter

* Nielsen shares rise 2 pct to $36.31

By Bhaswati Mukhopadhyay

May 6 (Reuters) - Nielsen Holdings NV, best known in the United States for its TV ratings business, said it would sell its expositions business to Canadian private equity firm Onex Corp for $950 million, freeing up cash for its planned push into the radio measurement business.

Nielsen Holdings provides a host of data services, including measuring traffic to websites and the shopping habits of consumers.

"Divesting the expositions business allows us to focus on these core areas that provide our clients with a comprehensive understanding of consumers," Nielsen Chief Financial Officer Brian West said in a statement on Monday.

Nielsen shares rose as much as 2 percent on the New York Stock Exchange on Monday.   Continued...