Daily Mail & General Trust PLC Agreement to dispose of EDR (5214H)
March 13 2018 - 3:02AM
UK Regulatory
TIDMDMGT
RNS Number : 5214H
Daily Mail & General Trust PLC
13 March 2018
13 March 2018
Daily Mail and General Trust plc (DMGT)
Agreement to dispose of EDR
Following the announcement, in November 2017, of a process being
under way to dispose of EDR, the US property information business,
DMGT announces that a sale has been agreed. Silver Lake Partners
and Battery Ventures, two leading private equity investors with
experience in growing technology, data and software businesses and
investing in evolving business models, will acquire EDR for $205
million. The sale is expected to complete in the coming weeks.
The disposal is consistent with DMGT's key strategic priorities
of increasing portfolio focus and enhancing financial
flexibility.
Goldman Sachs International acted as advisers to DMGT during the
disposal process.
For further information
For analyst and institutional
enquiries:
Tim Collier, Chief Financial
Officer +44 20 3615 2902
Adam Webster, Head of Management
Information
and Investor Relations +44 20 3615 2903
For media enquiries:
Alex Moorhouse, Head of Communications +44 20 3615 2245
Market Abuse Regulation
The information communicated in this announcement includes
inside information.
About DMGT
DMGT manages a diverse, multinational portfolio of companies,
with total revenues of around GBP1.5 bn, that provide businesses
and consumers with compelling information, analysis, insight,
events, news and entertainment. DMGT is also a founding investor
and the largest shareholder of Euromoney Institutional Investor PLC
and ZPG Plc.
Person responsible for arranging the release of this
announcement:
Adam Webster, Head of Management
Information
and Investor Relations +44 20 3615 2903
This information is provided by RNS
The company news service from the London Stock Exchange
END
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March 13, 2018 03:02 ET (07:02 GMT)
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