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Euromoney Institutional Investor PLC Announces Acquisition Of Centre For Investor Education

Friday, 19 Apr 2013 02:00am EDT 

Euromoney Institutional Investor PLC announced that it is extending its global leadership in the business of events for institutional investors and asset managers with the acquisition of a 75% stake in the Centre for Investor Education (CIE). Euromoney has paid an initial AUD14.4 million (GBP9.9 million) cash consideration for a 75% interest in CIE, to be adjusted up or down dependent on CIE's results for the year to December 2013. Euromoney will acquire the remaining 25% of CIE's equity in two instalments based on CIE's profits for the years to December 2014 and 2015. The acquisition will be funded from Euromoney's existing committed borrowing facility.