Feb 5 Media and marketing services company UBM
Plc said it received a 160-million-pound binding offer
from private-equity firm Electra Partners LLP for a portfolio of
its data services businesses.
The deal consideration includes a 40-million-pound ($62.96
million) vendor loan note, UBM said in a statement.
The businesses being sold represent a bulk of UBM's data
services operations including its health, technology and IP,
trade and transport, and paper business units. Revenue from
these businesses for 2012 is estimated at around 179 million
Margins at the data services business, which provides
information sets and data sets to customers, were hurt as
advertisers cut back on higher-margin print advertisements in
directories post their transition to a digital format.
UBM, which also organises exhibitions, trade shows and
conferences, estimated adjusted earnings per share to be about
58 pence for 2012.
The company said its company press release distributor PR
Newswire and events business had performed in line with its
Profit at the data services unit fell below its prior view,
but was expected to be offset by lower-than-anticipated
corporate costs and a tax charge, UBM said.
Shares in the company closed at 784 pence on Monday on the
London Stock Exchange. They have risen about 35 percent in the
UBM will issue its full-year results on March 1.