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LONDON — Finnish media group Sanoma Oy is near a deal with Dutch publisher VNU NV to buy VNU’s consumer-magazines business for about 1.25 billion euros ($1.09 billion), people familiar with the matter told The Wall Street Journal.
The deal has yet to be finalized and could still fall apart, these people said.
Sanoma appears to have narrowly defeated a joint bid by BC Partners and CVC Capital Partners Group Ltd., the European private-equity firms.
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