Quayle Munro is pleased to announce that it has advised Informa PLC on the sale of its Consumer Information Businesses to Progressive Digital Media Group PLC for consideration of £25 million in cash.
The transaction includes the sale of Datamonitor Consumer, Datamonitor Financial, MarketLine and Verdict businesses. The sale will be effected by Informa transferring the above named businesses into Verdict Research Limited, the entire share capital of which will be acquired by Progressive.
Gareth Wright, CFO of Informa said:“This transaction allows Informa to focus investment on its priority businesses that were identified as part of last year's strategy review, whilst ensuring that the Consumer Information businesses are within a structure where they can thrive. As such, we are pleased to undertake this transaction with Progressive Digital Media.”
Simon Pyper, CEO of Progressive Digital Media said:“The acquisition of these businesses will broaden Progressive’s Consumer offering, providing scale and additional categories in an important industry sector.”
Julian Moore, Managing Director of Quayle Munro said: “We are delighted to have advised Informa on the sale of its Consumer Information Businesses to Progressive Digital Media. This transaction has enabled us to leverage our significant experience in the business information sector.”
Quayle Munro has advised on over 50 transactions over the past five years with parties including Bloomberg, Dow Jones, Platts (McGraw Hill Financial), RELX Group, Thomson Reuters and Virgin Group.
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