Informa pays pounds 28m cash for 13 business magazines from Emap
Tuesday 09 November 1999
The titles being acquired by Informa range from monthly business magazines Insurance Age and Containerisation International to weekly publications International Freighting Weekly and Fishing News. The acquisition, expected to be earnings-enhancing in the first full year, includes seven related exhibitions and events.
"The Emap titles are a good complement to our existing portfolio," said David Gilbertson, Informa's chief executive. "They will fit well into the areas we serve, without duplicating anything."
The acquisition also includes Liner Shipping Network, an electronic information service distributed to subscribers over the Internet. It provides time- critical news and information about international container vessels and the freight industry.
In the year to March the acquired businesses generated pounds 2.8m in operating profit before attributed overheads, on sales of pounds 12.5m. The net assets being sold total pounds 200,000.
"As we focus the group on specific and larger markets with potential for growth, we are rationalising the portfolio of our media businesses," said Kevin Hand, Emap's chief executive.
In July, Emap said it would increase new product investment to pounds 30m, including pounds 10m for online sites. Its near-100 websites, grouped in Emap Digital, are generating annual revenue of about pounds 10m. In September, Emap sold a 19 per cent interest in Metal Bulletin, the business publishing information group, for pounds 32.6m. Last month, it disposed of Insert, a French outdoor advertising subsidiary that was acquired in 1994 when Emap bought Editions Mondiales, a French consumer magazine publisher.
After hitting 12-month lows at 730p last month, Emap stock has rallied. Although it closed yesterday up 2p at 822p, the shares are well below the all-time high of 1,418p recorded in March.
Informa has made several bolt-on acquisitions since it was formed last year via the merger of LLP Group and IBC Group, a publishing, conference and training provider. Mr Gilbertson is looking at further acquisitions and is prepared to spend upwards of pounds 100m. Informa stock closed at an all-time high, up 4.5p to 431p.
- 1 If you're not already angry about the refugee crisis, here's a history lesson to remind you why you really should be
- 2 Moscow voted the world's unfriendliest city
- 3 Idris Elba is ‘too street’ to play 007, says James Bond author
- 4 Pansexual: What is it - and when did the term gain popularity?
- 5 I'm pansexual – here are the five biggest misconceptions about my sexuality
Bono's group has made more money from Facebook investment than from all his music
Miley Cyrus calls out hypocrisy of women’s nipples being taboo
Auschwitz museum defends mist showers installed during heat wave after visitor complains they are reminiscent of gas chambers
More than 11,000 Icelanders offer to house Syrian refugees to help European crisis
Nazi 'gold train': Fire engulfs suspected location of vehicle in Poland
Climate change: 2015 will be the hottest year on record 'by a mile', experts say
Jeremy Corbyn calls Osama bin Laden's killing a 'tragedy' - but was it taken out of context?
Tony Blair attacks Jeremy Corbyn's 'Alice In Wonderland' politics
Theresa May says migrants should be banned from entering the UK unless they have jobs lined up
Iain Duncan Smith 'should resign over disability benefit death figures', says Jeremy Corbyn
UN investigating British Government over human rights abuses caused by IDS welfare reforms
iJobs Money & Business
£20000 - £25000 per annum: Recruitment Genius: We are a vibrant and establishe...
£15000 - £20000 per annum: Recruitment Genius: An experienced Repayments Advis...
£25000 - £30000 per annum: Recruitment Genius: This leading provider of financ...
£20000 - £25000 per annum + competitive: SThree: Are you looking to take your ...