12th Apr 2007 10:01
Euromoney Institutional InvestorPLC12 April 2007 EUROMONEY INSTITUTIONAL INVESTOR PLC For immediate release Euromoney sells Metal Bulletin subsidiary, EIC Euromoney Institutional Investor PLC ("Euromoney") announced today that it hascompleted the sale of its wholly-owned subsidiary, Energy Information CentreLimited ("EIC") to Broadfern Partners ("Broadfern"). Broadfern has paid £4.7 million on completion. A further payment will be made,on a pound for pound basis, for the net current assets of the company above£250,000 as at March 31, 2007 on agreement of the completion accounts. The saleof EIC is a class 3 transaction for Euromoney under the listing rules. EIC provides a range of integrated energy services, covering the oil & gas,electricity and water industries. EIC is the firmly established leader in theprovision of wholesale and retail market intelligence, outsourced procurementand energy risk management strategy. EIC was acquired by Euromoney as part of its acquisition of Metal Bulletin inOctober 2006 for £222 million. The disposal of EIC is consistent withEuromoney's continuing strategy of streamlining its portfolio of businesses andfocusing on subscription-based electronic data products. April 12, 2007 Ends Note to editors: About Euromoney Institutional Investor PLC Euromoney Institutional Investor PLC is listed on the London Stock Exchange andis a member of FTSE 250 share index. It is a leading international business-to-business media group focused primarily on the international finance, metals andcommodities sectors. In October 2006 it acquired Metal Bulletin plc for £222million. It publishes more than 70 magazines, newsletters and journals,including Euromoney, Institutional Investor and Metal Bulletin. It also runs anextensive portfolio of conferences, seminars and training courses, and is aleading provider of electronic information and data on international finance,metals and emerging markets. For further information please contact: Colin Jones, Finance Director Tel: 020 7779 8556; Email: [email protected] Christopher Fordham, Director Tel: 020 7779 8057; Email: [email protected] This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
ERM.L