Centaur Media Sells Human Resources Unit Amid Divestment Programme

LONDON (Alliance News) - Centaur Media PLC said Wednesday it had sold its human resources unit for GBP5 million in cash as part of its ongoing divestment programme, with it considering what to do with the proceeds.

Centaur - a publishing, events and services firm - sold Centaur Human Resources Ltd for GBP5 million to DVV Media International Ltd, after agreeing the deal in mid-April. CHR owned brands including Employee Benefits Live, Employee Benefits Connect and the Forum for Expatriate Management.

In October after a strategy review, Centaur decided to focus on its leading brands and divest the others. In addition to the human resources unit sale, Centaur has already sold its financial services unit for GBP5 million.

Centaur was still in ongoing discussions about other assets, with more announcements to follow. The firm has still not yet decided the "best use" of its sale proceeds once the divestment programme is complete.

Shares in Centaur were 5.1% higher at 54.50 pence on Wednesday.