Last checked at 17 Jul 2018 07:00
17 July 2018
Ascential plc
Completion of disposal of Exhibitions
Ascential plc (LSE: ASCL.L), the global specialist information company, is pleased to announce the completion of the disposal of Ascential Exhibitions to ITE group plc earlier today for a total cash consideration of £300 million, on a cash and debt free basis, subject to a normalised working capital adjustment.
The disposal was originally announced on 15 May 2018 and further details were set out in a circular sent to the Company's shareholders on 7 June 2018. The Disposal was approved by the Company's shareholders at a general meeting on 25 June 2018.
Duncan Painter, Chief Executive Officer of Ascential, said:
"The divestment of the Exhibitions business is an important step for Ascential. I am pleased that we have found a good home for the Exhibitions team and would like to thank them for their contribution to Ascential. Looking ahead, we remain focused on enabling our customers to succeed in the digital economy, and this sale increases our financial capacity to invest in the future growth of our business."
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For further information please contact: FTI Consulting LLP |
020 3727 1000 |
Edward Bridges, Jamie Ricketts |
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About Ascential plc:
Ascential is a specialist, global, information company that helps the world's most ambitious businesses win in the digital economy. Our information, insights, connections, data and digital tools solve customer problems in three disciplines:
• PRODUCT DESIGN via global trend forecasting service WGSN;
• MARKETING via global benchmark for creative excellence and effectiveness Cannes Lions and WARC and strategic advisory firm MediaLink; and
• SALES via retail and eCommerce strategy and analytics products from One Click Retail, Clavis Insight and Planet Retail RNG, the world's premier payments and Fin Tech congress Money20/20, global retail industry summit World Retail Congress and Retail Week.
Ascential also powers political, construction and environmental intelligence brands DeHavilland, Glenigan and Groundsure.