15th Oct 2013 08:25
LONDON (Alliance News) - Euromoney Institutional Investor PLC Tuesday said that it is expanding its project finance and infrastructure information business with the acquisition of online data provider Infrastructure Journal.
The international business information and events group said that it is acquiring Infrastructure Journal from Top Right Group for GBP12.5 million in cash. It said that the acquisition will be funded from its existing committed borrowing facility.
Euromoney said that it expects the acquisition to enhance earnings in its current financial year, and said that the move is consistent with its strategy of investing in online subscription and events businesses to reduce dependence on print advertising revenue.
The company shares were down 0.2% Tuesday morning, trading at 1,068.00 per share.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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