9th May 2025 12:05
(Alliance News) - Centaur Media PLC shares jumped on Friday after it and Brave Bison Group PLC confirmed talks regarding the potential sale of its MiniMBA business.
Also on Friday, Brave Bison announced the completion of its takeover of The Fifth Ltd.
Shares in Centaur were trading 13% higher at 30.00 pence late on Friday morning in London. Brave Bison's stock was up 3.7% at 2.46p.
Brave Bison, saying it was responding to recent press speculation, confirmed it has entered exclusive negotiations to buy MiniMBA from Centaur for a GBP19 million enterprise value.
Centaur meanwhile stated: "The board of Centaur notes the recent media speculation and confirms that it is considering the potential disposal of MiniMBA and is having preliminary discussions with Brave Bison Group PLC in that regard."
Brave Bison said it plans to fund the acquisition through a new bank facility of up to GBP10 million, a GBP4 million strategic investment from MiniMBA founder Mark Ritson, existing group balance sheet cash (which totalled GBP5 million as of March 31), and a placing of new Brave Bison shares.
MiniMBA is "an eLearning business for marketing professionals" whose clients include both marketers and "major brand advertisers" like Tesco PLC, Alphabet Inc's Google, Nestle SA and Carlsberg AS.
"MiniMBA would form the cornerstone of a new eLearning & business intelligence division for Brave Bison," the company said, adding: "As part of the group, MiniMBA would also leverage Brave Bison's expertise in artificial intelligence, digital marketing and technology services, including near-shore hubs for product development."
The parties remain in exclusive negotiations in respect of the potential acquisition until June 19, Brave Bison said.
Both companies noted that there is no guarantee of a transaction being completed.
Also, Brave Bison has completed its up to GBP7.6 million acquisition (announced on April 10) of the entire issued share capital of The Fifth Ltd, or the trade and assets of The Fifth Group, from News Corp subsidiary News UK & Ireland Ltd.
It confirmed that News Corp is now interested in 40.0 million Brave Bison shares, representing 3.0% of its issued share capital.
By Emma Curzon, Alliance News reporter
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