1st Mar 2011 07:02
1 March 2011
UBM disposes of French medical print business
United Business Media Limited today announces that it has sold its French medical newspaper and magazine business to a management buyout team led by G©rard Kouchner, the business's Chief Executive since 2005. UBM has sold the business on behalf of its UBM Medica division and will retain a 37.1% equity stake. The cash consideration was €4.4m and UBM has extended vendor finance of €6m to the management buyout team, valuing the transaction at €13m on an enterprise basis.
The business publishes weekly, bi-weekly, monthly and other subscription and controlled circulation titles for the French healthcare professional community. It also has a number of smaller print media and customised marketing products for the French medical community. In 2010 the business generated revenues of approximately €40m and employed around 170 staff at its Paris premises.
The transaction further rationalises UBM's print product portfolio andcontinues UBM's progression towards a portfolio of integrated cross-mediamarketing services designed to serve specific commercial and professionalcommunities. - Ends - ContactsMedia Peter Bancroft Director of Communications E-mail [email protected] Direct telephone +44 20 7921 5961 Chris Barrie Citigate Dewe Rogerson E-mail [email protected] Direct telephone +44 20 7282 2943 Mobile +44 796 872 72 89 Analysts/Investors Kate Postans Head of Investor Relations Email [email protected] Telephone +44 20 7921 5940 Notes to Editors1. UBM
UBM focuses on two principal activities: worldwide information distribution, targeting and monitoring; and the development and monetisation of B2B communities and markets. UBM's businesses inform markets and serve professional commercial communities - from doctors to game developers, from journalists to jewellery traders, from farmers to pharmacists - with integrated events, online, print and business information products. Our 5,900 staff in more than 30 countries are organised into specialist teams that serve these communities, bringing buyers and sellers together, helping them to do business and their markets to work effectively and efficiently.
For more information, go to www.ubm.com
2. UBM Medica
UBM Medica provides information and education to healthcare professionals and patients around the world. It has a unique portfolio of professional media products including newspapers, magazines, drug directories, electronic databases, websites and events.
For more information, go to www.ubmmedica.com
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