Euromoney to be Split in Two as Sale Completes

Private equity consortium Becketts Bidco has completed its £1.61bn acquisition of London-based B2B information services provider Euromoney Institutional Investor.

Euromoney provides actionable data, analysis, intelligence and market access services, and has customers in more than 160 countries. Its more than 2,500 employees are located in North and South America, Europe and Asia. Earlier this year it acquired US-based people intelligence specialist Boardroom Insiders for $25m in cash.

The acquiring company is a consortium of Luxembourg-based private equity firm Astorg Asset Management and London-based counterpart Epiris, and the bid was accepted by Euromoney's Board back in July this year. Around 90% of Euromoney shareholders have now voted in favour, and regulatory / antitrust approvals have been granted. The offer price of 1,461p per Euromoney share constitutes a 34% premium on the stock price on 17th June, the final trading day before the company confirmed the takeover approach. the firm delisted from the London Stock Exchange on Friday.

The business will now be separated into two, with the Fastmarkets brand becoming a standalone entity owned and controlled by Astorg, while the remaining Euromoney trusted and specialist brands will operate under the majority ownership and control of Epiris. The buyers say this will allow the businesses 'to pursue strategies tailored to their differing financial characteristics and end markets, led solely by dedicated management teams'.

Web site: www.euromoneyplc.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.