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.