Euromoney Institutional InvestorPLC Disposal (1974X)
November 22 2017 - 2:01AM
UK Regulatory
TIDMERM
RNS Number : 1974X
Euromoney Institutional InvestorPLC
22 November 2017
EUROMONEY INSTITUTIONAL INVESTOR PLC
ANNOUNCEMENT OF DISPOSAL
November 22, 2017
Euromoney enters agreement to sell its minority stake in
Dealogic
Euromoney Institutional Investor PLC ("Euromoney"), the
international business information and events group, announces
today that it has reached a binding agreement to sell its minority
equity stake in Dealogic, a provider of content and software
solutions to financial firms, to Ion Investment Group for
approximately $135m. The consideration will be received in
cash.
Completion of the sale is subject to regulatory approvals and is
expected to take approximately six weeks.
Euromoney has been associated with the Dealogic businesses for
over 30 years and acquired its stake in Dealogic in December 2014.
Euromoney will continue to receive from Dealogic the league tables
and data analytics products used in its Global Capital
business.
Euromoney's results for the year ended 30 September 2017
included GBP3.9m in adjusted profit before tax from Dealogic. The
gross assets of Dealogic at 30 September 2017 were GBP551.6m.
The sale proceeds will initially be used to pay down debt and
over time will provide Euromoney with capital to invest in its main
investment themes.
Andrew Rashbass, CEO of Euromoney said: "This transaction is in
line with Euromoney's strategy, one pillar of which is actively
managing its portfolio of assets and selling businesses which do
not align with its strategy and recycling that capital to invest in
our main investment themes like price discovery, post trade
activities, asset management and telecoms."
Ends
For further information, please contact:
Euromoney Institutional Investor PLC
Colin Jones, Finance Director: +44 20 7779 8666;
cjones@euromoneyplc.com
Christopher Fordham, Managing Director: +44 20 7779 8057; cfordham@euromoneyplc.com
Corporate Development
FTI Consulting
Charles Palmer: +44 20 3727 1400;
euromoney@fticonsulting.com
NOTE TO EDITORS
Euromoney Institutional Investor PLC is listed on the London
Stock Exchange and is a member of the FTSE 250 share index. It is
an international business-information group covering asset
management, price discovery, data & market intelligence, and
banking & finance under brands including Euromoney,
Institutional Investor, BCA Research, Ned Davis Research and Metal
Bulletin. The group also runs an extensive portfolio of events for
the telecoms, financial and commodities markets.
www.euromoneyplc.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
DISPGGPCGUPMUQP
(END) Dow Jones Newswires
November 22, 2017 02:01 ET (07:01 GMT)
Euromoney Institutional ... (LSE:ERM)
Historical Stock Chart
From Apr 2024 to May 2024
Euromoney Institutional ... (LSE:ERM)
Historical Stock Chart
From May 2023 to May 2024