Euromoney Institutional Investor PLC, the international business information and events group, last week announced that it is considering strategic options for its Global Markets Intelligence Division, consisting of CEIC and EMIS.
Posted on: 11 September 2017 07:24
Andrew Rashbass: "Now is the right time for us to explore strategic options for these businesses."
Headquartered in Hong Kong, the Division is a leading provider of macro-economic, company and industry intelligence on emerging markets with strong customer presence in China, India, Brazil and Central and Eastern Europe as well as in developed markets. In 2016 the Division reported revenue of c.$52.7m and adjusted EBITDA of c.$14.5m.
At the Investor Day in March 2016 and at subsequent results presentations to analysts and shareholders, management has explained its strategy of recycling capital towards big investment themes including price discovery, post-trade activities, asset management and telecoms. As Euromoney noted in its half-year announcement in May 2017, the company has now been organised into seven divisions partly in order to facilitate the allocation of capital.
Recent, unsolicited interest from potential buyers confirms the Board’s view that the Division is an attractive asset. Therefore, as part of its review, Euromoney will consider if another owner may be better placed to capitalise on continued growth opportunities for the Division, says the company. In light of the interest Euromoney has engaged with advisors to assess its options.
Andrew Rashbass, Euromoney Chief Executive said, “The Global Markets Intelligence Division consists of two strong brands, CEIC and EMIS. Given our strategy of recycling capital towards big investment themes like price discovery, post-trade activities, asset management and telecoms, and recent, unsolicited interest we have had in these assets, now is the right time for us to explore strategic options for these businesses.”
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