UBM takes 'significant step forward' after disposing Delta unit

FTSE 250-listed B2B communications and marketing service provider UBM has completed the bulk of the sale of its Data Services businesses, collectively known as Delta.

FTSE 250-listed B2B communications and marketing service provider UBM has completed the bulk of the sale of its Data Services businesses, collectively known as Delta.

The sale, first announced earlier this year to independent private equity fund manager Electra Partners, is worth a total consideration of £160m including a £40m vendor loan note.

The group said on Tuesday that completions of the sale of the remaining Delta businesses would occur as certain additional regulatory and other conditions were satisfied.

Delta represents the bulk of UBM's Data Services segment and includes its Health, Technology and IP, Trade and Transport, and Paper business units.

Speaking on February 6th, UBM's Chief Executive Officer David Levin 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."

UBM said it would use £100m of the sale proceeds to repay bank debt.

MF

Recommended

Broker safety – your questions answered
Investment strategy

Broker safety – your questions answered

Cris Sholto Heaton answers more of your questions about the safety of stockbroker accounts
25 Mar 2020
How demographics affects stock valuations
Investment strategy

How demographics affects stock valuations

New research suggests that stock and bond valuations are driven by the age of the population – at least in the US.
24 Feb 2020
Do you own shares in Sirius Minerals? Here’s what you need to do now
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020
Why investors should be “cautiously bullish” for 2020
Stockmarkets

Why investors should be “cautiously bullish” for 2020

Analysts have been out in force making rosy predictions for stockmarkets in 2020, but while there is certainly a case for optimism, investors should r…
17 Jan 2020

Most Popular

Here’s why you really should own at least some bitcoin
Bitcoin

Here’s why you really should own at least some bitcoin

While bitcoin is having a quiet year – at least in relative terms – its potential to become the default cash system for the internet is undiminished, …
16 Sep 2020
Will a second wave of Covid lead to another stockmarket crash?
Stockmarkets

Will a second wave of Covid lead to another stockmarket crash?

Can we expect to see another lockdown like in March, and what will that mean for your money? John Stepek explains.
18 Sep 2020
Central banks want politicians to take charge – but what will they do?
US Economy

Central banks want politicians to take charge – but what will they do?

The US Federal Reserve has come to the end of the road in terms of what it can do to accelerate any recovery, says John Stepek. It's over to the polit…
17 Sep 2020