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EU approves purchase of Emap by Guardian, Apax

BRUSSELS
Fri Mar 7, 2008 6:08am EST

BRUSSELS (Reuters) - Guardian Media Group and private equity firm Apax won permission from the European Commission on Friday to buy Emap EMA.L and its business-to-business unit in a deal worth about 1 billion pounds ($2.02 billion).

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Emap is a specialist publishing and events group. The Commission said that despite some overlaps there were no problems with the deal.

"Emap would continue to face several strong, effective competitors with significant market shares for all products concerned," the Commission said.

Privately run GMG is owned by the Scott Trust, created in 1936. The company owns the Guardian and Observer newspapers as well as a 50.1 percent stake in Trader Media Group, its classified advertising arm.

(Reporting by David Lawsky, editing by William Schomberg)
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