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.”
- 1 East 17 bandmember Brian Harvey in 'very desperate situation’
- 2 Germanwings plane crash: Video shows co-pilot Andreas Lubitz learning to fly as a teenager
- 3 Vladimir Putin says Russia will fight for the right of Palestinians to their own state
- 5 WrestleMania 31 results: Seth Rollins stuns WWE as he cashes in Money in the Bank contract to claim title from Brock Lesnar
East 17 bandmember Brian Harvey in 'very desperate situation’
Vladimir Putin says Russia will fight for the right of Palestinians to their own state
Ohio Democrat Teresa Fedor speaks out during abortion debate to reveal she has been raped – and is interrupted by laughter from Republicans
Children take eight Isis captives to be beheaded in latest propaganda video
Jeremy Clarkson 'could be given minder' ahead of a potential Top Gear return
Ukip supporters are 55 or older, white and socially conservative, finds British Social Attitudes Report
JK Rowling responds to fan tweeting she 'can't see' Dumbledore being gay
Street preacher quoting from the Bible fined for calling homosexuality an 'abomination'
Jeremy Clarkson sacked live: Alan Yentob 'wouldn't rule out' ex Top Gear host's BBC return
Woman filmed launching racist tirade against men on the Tube for speaking in 'own lingo'
The West has it totally wrong on Lee Kuan Yew
iJobs Money & Business
£18000 - £20000 per annum: Recruitment Genius: A Client Services Assistant is ...
£25000 - £30000 per annum + benefits: Ashdown Group: A global leader operating...
£32000 - £38000 per annum + benefits: Ashdown Group: A highly successful, inte...
£20000 - £35000 per annum: Recruitment Genius: This multi-award winning foreig...