February 5, 2013 / 7:46 AM / in 5 years

UBM to sell most of its data services operations for 160 mln stg

Feb 5 (Reuters) - 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 pounds.

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 expectations.

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 past year.

UBM will issue its full-year results on March 1.

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