13th Mar 2007 08:31
Euromoney Institutional InvestorPLC13 March 2007 EUROMONEY INSTITUTIONAL INVESTOR PLC For immediate release Euromoney sells Duty-Free News International and Raven Fox to the MetropolisGroup Euromoney Institutional Investor PLC ("Euromoney") announced today that it hascompleted the sale of Raven Fox, which includes Duty-Free News International("DFNI"), a leading duty-free and luxury goods publishing and events business,to the Metropolis Group ("Metropolis") for an undisclosed sum. Metropolis ownsFrontier magazine and the Frontier Awards which operate in the same marketplaceas DFNI. The value of the gross assets of the Raven Fox business is £705,000, which underthe London Stock Exchange listing rules makes this is a Class 3 transaction forEuromoney. "Euromoney is delighted to have found a good home for Raven Fox," saysChristopher Fordham, director of Euromoney. "We had no other businesses in theduty-free and luxury goods sectors and, following the acquisition of MetalBulletin in October 2006, our focus has been directed on integrating MetalBulletin into Euromoney. We wish Metropolis the very best with theiracquisition." Paul Kelly, managing director of Raven Fox, says: "This is good news for RavenFox, our staff, our readers, our advertisers and sponsors. The combination ofDFNI's news analysis, Frontier's product focus and RavenFox.com's news coveragecreates an undisputed leader in travel-retail media". Jonathan Mills, Chief Executive of Metropolis, says: "We are very pleased tohave acquired Raven Fox, which includes DFNI. The fit with Frontier's magazineand Awards is excellent and we are excited about the long-term opportunities forboth businesses in the growing Global Travel Retail industry. " Ends 12 March 2007 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 internationalbusiness-to-business media group focused primarily on the international finance,metals and commodities sectors. In October 2006 it acquired Metal Bulletin plcfor £222 million. 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. About the Metropolis Group The Metropolis Group is a privately owned publishing group, established in 1994,that specialises in Consumer, Business and Travel Publishing. It has grownrapidly over recent years and currently has revenues of over £15million,employing approximately 150 people. For further information, please contact: 1) Christopher Fordham, Director, Euromoney Institutional Investor PLC: London +44 207 779 8057. Email: [email protected] 2) Paul Kelly, Managing Director, Raven Fox: London +44 207 303 1709. Email: [email protected] 3) Jonathan Mills, Chief Executive, The Metropolis Group 0870-737-8080. Email: [email protected] This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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