RNS Number : 7144I
Euromoney Institutional InvestorPLC
20 June 2011
EUROMONEY INSTITUTIONAL INVESTOR PLC
Not for release before 07.00 hours
London time on Monday June 20 2011
Euromoney Institutional Investor PLC agrees terms
to acquire independent financial research business
Euromoney Institutional Investor PLC ("Euromoney"), the international publishing, events and electronic information group, has agreed terms to acquire Ned Davis Research Group ("NDRG"), the US-based provider of independent financial research to institutional investors. The transaction is subject to regulatory approval and final acceptance by NDRG's shareholders, and further details of the transaction will be disclosed if and when it completes.
On completion, Euromoney expects to pay approximately US$112 million (£69 million) for an initial 87% interest in NDRG. The consideration will be funded from Euromoney's existing committed borrowing facility. The remaining interest in NDRG will be acquired under an earn-out agreement, in two equal instalments, based on the profits of NDRG for the years to December 31 2012 and 2013. The maximum amount payable for a 100% interest in NDRG is $173 million. NDRG's pre-tax profit for the year to December 31 2010 was US$11.8 million and the value of its gross assets at May 31 2011 was US$11.2 million.
For further information, please contact:
Euromoney Institutional Investor PLC
Colin Jones, Finance Director: +44 20 7779 8666; firstname.lastname@example.org
Christopher Fordham, Director: +44 20 7779 8057; email@example.com
Charles Palmer: +44 20 7269 7180; Charles.Palmer@FD.com
NOTE TO EDITORS
Euromoney Institutional Investor PLC (www.euromoneyplc.com) is listed on the London Stock Exchange and a member of the FTSE-250 share index. It is a leading international business-to-business media group focused primarily on the international finance, metals and commodities sectors. It publishes more than 70 titles, including Euromoney, Institutional Investor, and Metal Bulletin. It also runs an extensive portfolio of conferences, seminars and training courses and is a leading provider of electronic information, research and data services covering international finance, metals and emerging markets. Its main offices are in London, New York, Montreal and Hong Kong and more than a third of its revenues are derived from emerging markets.
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