Centaur Media PLC Centaur completes disposal (8456A)
June 03 2019 - 2:00AM
UK Regulatory
TIDMCAU
RNS Number : 8456A
Centaur Media PLC
03 June 2019
03 June 2019
Centaur Media Plc
Centaur completes disposal of engineering portfolio to Mark
Allen Group for GBP2.5m
Centaur Media Plc ("Centaur" or the "Group"), an international
provider of business information and specialist consultancy, today
announces that it completed the sale of its engineering portfolio,
including The Engineer and Subcon, on 31 May 2019.
As announced last month, the purchaser is Mark Allen Group, an
information services company which delivers high-quality content
through market-leading journals, magazines, events, exhibitions and
websites. The consideration was GBP2.5m in cash, subject to
customary post-completion adjustments.
The disposal is part of the divestment process that began after
Centaur concluded a strategic review in October and decided to
focus on its leading brands to improve operational execution.
Together with the recently announced sales of its financial
services, HR businesses and travel and meetings exhibitions, the
Group has raised GBP21.75m in aggregate. In addition, the sale of
Centaur's smaller businesses will enable the simplified Group to
make significant cost reductions, which are expected to create
further shareholder value.
Negotiations for the sale of The Lawyer are continuing and
Centaur will provide an update in due course. As previously
disclosed, Centaur will consider the best use for the sale proceeds
once the divestment process is complete.
Enquiries
Centaur Media Plc
Andria Vidler, Chief Executive
Officer 020 7970 4000
Swag Mukerji, Chief Financial
Officer
Teneo
Paul Durman/Rebecca Hislaire 020 7420 3144
Note to editors
Centaur
Centaur is an international provider of business information and
specialist consultancy that inspires and enables people to excel at
what they do, raising the standard for insight, interaction and
impact.
Leading brands include: Econsultancy, Marketing Week, Festival
of Marketing, MarketMakers, Creative Review, Influencer
Intelligence, Fashion & Beauty Monitor, The Lawyer and
Oystercatchers.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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