Press Release:
KEY HIGHLIGHTS
- · Attractive partner…Leading German media group, Verlagsgruppe Handelsblatt acquires majority ownership of German/Swiss domestic conference business Euroforum;
- · Financial impact…Purchase values the business at around €15m; post working capital and net debt adjustments, implied 2017 EV/EBITDA multiple of 6-7x.
London: Informa (LSE: INF.L), the International Exhibitions, Events, Business Intelligence and Academic Publishing Group, today announces the majority acquisition of its German/Swiss domestic conference business Euroforum by leading German media group, Verlagsgruppe Handelsblatt GmbH.
The transaction continues the strategy of portfolio focus within the Knowledge & Networking Division, following on from a number of other portfolio changes over recent years in Denmark, Sweden, the Netherlands, Russia, Spain, Portugal, South Africa and Brazil. It leaves the Division focused on specialist communities in its core end markets of Global Finance, Life Sciences and TMT.
Stephen A. Carter, Informa Group Chief Executive, said: “Our established and existing relationship with Handelsblatt is extended today through their welcome majority purchase of Euroforum, making them the natural partner for the next stage of its development.” He added: “For Informa, this further increases the focus of our Knowledge & Networking Division onto its core end markets of Finance, Life Sciences and TMT.”
Gabor Steingart, CEO of Handelsblatt Media Group, said: “We are delighted to welcome Euroforum into the Handelsblatt Group. We have been fortunate to work closely with its experienced and knowledgeable management team over recent years and believe together we can build on its strong foundations to create a leading position in the German face-face market.”
The transaction is expected to close by the end of October.
Informa Group PLC
Informa is a leading international Business Intelligence, Exhibitions, Events and Academic Publishing Group with annual revenues of over £1.6bn. It helps commercial, professional and academic communities work smarter and make better decisions faster, through specialist content and intelligence, and opportunities to connect and learn.
Verlagsgruppe Handelsblatt GmbH & Co. KG
Handelsblatt Publishing Group, part of the Dieter von Holtzbrinck Media Corporation, is the leading media group for business and financial information in Germany. Founded in 1946, the Düsseldorf based publishing group represents independent quality journalism. Over two million customers regularly read its flagship publications Handelsblattand WirtschaftsWoche. Alongside its activities in business journalism Handelsblatt Media Group with its subsidiaries iq media marketing GmbH and its corporate content specialist planet c offer the full range of media marketing services for lead publications in business and for individual companies.