27th Sep 2013 06:27
LONDON (Alliance News) - UBM plc (UBMJF.PK, UBM.L) announced that it has agreed to sell its Property Week print magazine and related products to Metropolis International. UBM plc also announced the sale of its North American IT channel business to a management-led investment group. The Comdex brand and UBM India's CRN business are excluded from this transaction. UBM has retained a 30% minority equity interest in the business.
UBM plc said the disposals constitute the bulk of the operations treated as discontinued in its first half 2013 results and classified as held for sale at 30 June 2013. The combined cash proceeds from the disposals are approximately 8.5 million pounds.
Copyright RTT News/dpa-AFX
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