Last checked at 8 Dec 2017 13:45
8 December 2017
Ascential plc
Sale of MEED to GlobalData concludes Heritage Brand disposals
Ascential plc (LSE: ASCL.L), the global business-to-business information company, today announces that it has agreed the sale of MEED to GlobalData for a consideration of $17.5m, payable in cash and subject to normal working capital adjustments. This concludes the Heritage Brand disposal process announced earlier in the year. The sale has completed and the proceeds will be used to reduce Ascential's net debt.
Duncan Painter, CEO, Ascential, commented:
"Ascential's strategy is to focus on its top performing brands to drive sustainable organic growth. GlobalData has consistently shown its commitment to owning the MEED brands, which have a strong presence in the local market, and have a clear plan for success in the Middle East region."
For further information, please contact: | |
FTI Consulting LLP | 020 3727 1000 |
Matt Dixon / Ed Bridges / Jamie Ricketts |
About Ascential plc:
Ascential is a global business-to-business information company that informs and connects the business world in 150 countries through market-leading Exhibitions & Festivals and Information Services.
Ascential powers the global trend forecasting service WGSN, environmental risk data business Groundsure, e-commerce analytics provider One Click Retail, the prestigious Cannes Lions festival for the branded communications industry, the world's premier payments and financial services congress Money20/20 and MediaLink, a U.S.-based advisory and business services firm. Ascential's premium products enable focus, growth and value. The company provides customers with world class content and connections empowering their businesses to be the best informed and best connected. www.ascential.com