PA Group sells weather forecaster MeteoGroup for £161m
Monday 16 December 2013
Europe’s biggest private-sector weather forecaster, MeteoGroup, owned by PA Group, the owner
of the Press Association news wire, is set to change hands for €190 million
Its sale to private equity firm General Atlantic nets a £125 million profit for PA Group, which will be distributed to the UK media firms that jointly own the business.
Daily Mirror owner Trinity Mirror’s shares rose by more than 7 per cent as it said part of the proceeds was likely to be distributed to shareholders when the deal is completed next year. Daily Mail and General Trust, the Daily Mail publisher, also expects a payout, although publisher UBM said the proceeds would offset restructuring charges incurred already this year.
MeteoGroup has doubled in size since PA Group bought it in 2005, employing 400 people in 14 countries. PA Group chief executive Clive Marshall said: “The sale will provide the capital to enable us to continue to invest in and diversify the Press Association business, as well as address our pension fund deficit.”
Arsenal strengthened their grip on a top-four finish with a straightforward 3-0 win over Hull City.
Easter egg hunt horror as mother finds dead body under deck of house
Missing Malaysia Airlines Flight MH370: Wreckage could be found within a week as search reaches 'very critical juncture', says minister
Wheat rust: The fungal disease that threatens to destroy the world crop
Loch Ness Monster found on Apple Maps?
Royal Tour 2014: Is the Duchess of Cambridge the only person ever to climb into a fighter jet wearing a dress and high heels?
The food poverty scandal that shames Britain: Nearly 1m people rely on handouts to eat – and benefit reforms may be to blame
Scottish independence: It is the English who should be on their knees, begging the Scots to vote ‘No’
Nigel Farage fatigue? Half of voters ‘immune’ to Ukip’s appeal
'Sinful': Video of British Muslims dancing to Pharrell Williams's hit Happy comes under attack
Nigel Farage: I’m taking on the status quo, and the Establishment’s fighting back
Refugee facing deportation from Sweden saved by fellow passengers refusing to let plane leave
- 1 Easter egg hunt horror as mother finds dead body under deck of house
- 2 'Natural' energy drink banned for containing erectile dysfunction drug
- 3 A bottle of wine a day is not bad for you and abstaining is worse than drinking, scientist claims
- 4 Loch Ness Monster found on Apple Maps?
- 5 How We Met: Alison Moyet & Emma Kennedy: 'I knew we'd be friends because she was happy to make a prat of herself'
iJobs Money & Business
£150.00 per week: QA Apprenticeships: This company has been providing on site ...
£221.25 per week: QA Apprenticeships: This company is a well established Inter...
£40000 - £50000 per annum: Harrington Starr: Client Relationship Manager - SQL...
£35000 - £50000 per annum: Pro-Recruitment Group: Take your chance to join the...