13 Mar 2018 07:00
13 March 2018
Daily Mail and General Trust plc (DMGT)
Agreement to dispose of EDR
Following the announcement, in November 2017, of a process being under way to dispose of EDR, the US property information business, DMGT announces that a sale has been agreed. Silver Lake Partners and Battery Ventures, two leading private equity investors with experience in growing technology, data and software businesses and investing in evolving business models, will acquire EDR for $205 million. The sale is expected to complete in the coming weeks.
The disposal is consistent with DMGT's key strategic priorities of increasing portfolio focus and enhancing financial flexibility.
Goldman Sachs International acted as advisers to DMGT during the disposal process.
For further information
For analyst and institutional enquiries: | |
Tim Collier, Chief Financial Officer | +44 20 3615 2902 |
Adam Webster, Head of Management Information | |
and Investor Relations | +44 20 3615 2903 |
For media enquiries: Alex Moorhouse, Head of Communications |
+44 20 3615 2245 |
Market Abuse Regulation
The information communicated in this announcement includes inside information.
About DMGT
DMGT manages a diverse, multinational portfolio of companies, with total revenues of around £1.5 bn, that provide businesses and consumers with compelling information, analysis, insight, events, news and entertainment. DMGT is also a founding investor and the largest shareholder of Euromoney Institutional Investor PLC and ZPG Plc.
Person responsible for arranging the release of this announcement:
Adam Webster, Head of Management Information | |
and Investor Relations | +44 20 3615 2903 |