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Experian Demerger Planned
Information services giant Experian, which owns MR businesses including Simmons Research and Vente in the US and FootFall Ltd and The Future Foundation in Europe, is likely to be demerged from parent GUS plc under plans unveiled today.
The Board of GUS said it plans to separate its two remaining businesses, Argos Retail Group (ARG) and Experian, subject to shareholder approval, with both ARG and Experian becoming independently listed on the London Stock Exchange in six to twelve months' time. Subject to market conditions, Experian would then aim to issue new LSE-listed shares to a combination of existing GUS shareholders and new investors, to a possible value of 10-15% of its ordinary share capital.
GUS said that each company would continue to be led by its existing experienced management teams. At Experian, the Chairman will be John Peace, the CEO Don Robert and the Finance Director Paul Brooks. The non-executive directors will include Sir Alan Rudge and David Tyler.
Sir Victor Blank, Chairman of GUS, commented: 'The separation of ARG and Experian is the final step in focusing GUS on fewer activities, a strategy that has delivered substantial value for shareholders. Both ARG and Experian are now well-positioned in their chosen markets and both have proven management teams and clear strategies for growth. A UK demerger will enable all of GUS' existing shareholders to continue to participate directly in the future development of these successful businesses.' Analysts suggest that Experian's value would be far higher on its own than it has been as part of GUS.
Experian purchased US provides Simmons in October 2004 and since then has reeled off a string of acquisitions including:
Experian is online at www.experian.com and GUS at www.gusplc.co.uk
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