UBM poised to divest Delta subsidiary for 160m pounds

FTSE 250-listed business publisher and events organiser UBM has reported the receipt of a binding offer from Electra Partners LLP to purchase a portfolio of UBM's Data Services businesses, known as 'Delta', for 160m pounds, including a 40m pound vendor loan note.

FTSE 250-listed business publisher and events organiser UBM has reported the receipt of a binding offer from Electra Partners LLP to purchase a portfolio of UBM's Data Services businesses, known as 'Delta', for 160m pounds, including a 40m pound vendor loan note.

Delta represents the bulk of UBM's Data Services segment and includes its health, technology and IP and paper business units.

In 2012, these businesses generated revenue of £179.3m and adjusted operating profit of £27.4m.

As of June 30th 2012, UBM reported that the businesses had gross assets of £295.5m.

David Levin, Chief Executive Officer of UBM, said: "This transaction is a significant strategic step forward for UBM. By divesting Delta we simplify UBM's business, improve the quality of our earnings, enhance our underlying growth rates and remove the challenges inherent in the continued transition to digital data delivery.

"We can now look forward to focusing on further developing UBM as a fast-growing and increasingly profitable events-led, marketing services and communications business."

Most Popular

The MoneyWeek Podcast: Asia, financial repression and the nature of capitalism
Economy

The MoneyWeek Podcast: Asia, financial repression and the nature of capitalism

Russell Napier talks to Merryn about financial repression – or "stealing money from old people slowly" – plus how Asian capitalism is taking over in t…
16 Jul 2021
Three companies that are reaping the rewards of investment
Share tips

Three companies that are reaping the rewards of investment

Professional investor Edward Wielechowski of the Odyssean Investment Trust highlights three stocks that have have invested well – and are able to deal…
19 Jul 2021
The future belongs to emerging markets – three EM stocks to buy now
Share tips

The future belongs to emerging markets – three EM stocks to buy now

Professional investor Carlos von Hardenberg of Mobius Capital Partners picks three of his favourite emerging-market stocks.
5 Jul 2021