News 

Euromoney to be sold in £1.6bn deal

Euromoney Institutional Investor has reached a sale agreement of 1.6bn and will be purchased by private consortium Becketts Bidco, in a deal managed by Astorg Asset Management.

Euromoney to be sold in £1.6bn deal
Leslie Van de Walle: "The board believes the offer represents value for shareholders and reflects the attractions of Euromoney's business model and performance." Photograph: Euromoney.

Bidco, which includes independent private equity manager Epiris, a London-based firm, will pay 1,461p per share in cash. This represents an increase of c.33.5% to the closing share price on 17 June, prior to the offer being made.

Euromoney chair Leslie Van de Walle said: "The board believes the offer represents value for shareholders and reflects the attractions of Euromoney's business model and performance. I would like to recognise the exceptional contribution of our people.

"Their insight, talent and innovation has driven our successful transition to a fast-growing, high margin, 3.0, information-services business."

Partners of Epiris Ian Wood and Chris Hanna commented: "Epiris is an experienced and successful investor in the B2B information space, including some of the components of the broader Euromoney business.

"Euromoney has a superb portfolio of market leading information and events businesses. We will empower the individual teams of these business and back them with further investment to accelerate growth, both organic and through M&A."