Disputed web addresses handed over.

Yellow Pages Group (YPG), in conjunction with its banking syndicate, has commenced a review process to assess a possible sale.

YPG has appointed Goldman Sachs JBWere to assist it in this process.  

Telecom sold off its directories business including Yellow Pages in 2007 for $2.2 billion to CCMP (now Unitas Capital) and the Ontario Teachers Plan.

Unitas and Teachers funded the purchase with $1.325 billion senior debt, a $300 million subordinated bridge loan and a $175 million payment-in-kind (PIK) note.

The Yellow Pages Group has lost a key director.

An insider confirmed today that Andrew Day has quit Yellow’s board.

The resignation is a blow to Yellow, which will lose the director’s international expertise.

Mr Day is a former chief executive of Telstra’s Yellow & White Pages division, Sensis, and former chief executive of the pan-European directory company Truvo.

Yellow has been struggling with heavy losses blamed on the high debt load taken on by its private equity owners.