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Yellow Pages Group (YPG) through Yellow Pages Income Fund acquired Advertising Directory Solutions Inc. (ADS), Canada’s second largest directory publisher. YPG purchased the business from an affiliate of Bain Capital, for a purchase price of approximately $2.55 billion payable with cash at closing, subject to a deduction for indebtedness. The ADS operating company has been renamed Yellow Pages Inc./Pages Jaunes Inc.

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2005