Euromoney - Acquisition

EUROMONEY INSTITUTIONAL INVESTOR PLC

RNS Announcement

October 15, 2013

Euromoney Institutional Investor PLC has signed a binding agreement to acquire Infrastructure Journal, a leading provider of online data, intelligence and events for the global infrastructure sector

Euromoney Institutional Investor PLC ("Euromoney"), the international online information and events group, is expanding its project finance and infrastructure business with the acquisition of Infrastructure Journal.

Infrastructure Journal is a leading information source for the international infrastructure markets. Its business model is centred on premium subscription content that tracks market activity and is delivered in real-time through its online platform (www.ijonline.com) which is accessible from desktops, tablets and smartphones. Infrastructure Journal also runs a portfolio of events which includes conferences, forums and awards attended by senior investment professionals, industry practitioners and advisors. The prestigious Infrastructure Journal Awards are held annually in London.

Euromoney is acquiring 100% of the assets of Infrastructure Journal from Top Right Group ("TRG") for a cash consideration of £12.5 million, funded from its existing committed borrowing facility. The acquisition is expected to be earnings enhancing for Euromoney in its financial year 2014. Infrastructure Journal had revenues of £3.1 million for the year to December 2012. The transaction will complete after the required TUPE (Transfer of Undertakings (Protection of Employment)) consultation period, expected to conclude by November 1, 2013.

The acquisition of Infrastructure Journal is consistent with Euromoney's strategy of investing in online subscription and events businesses which will benefit from its global reach. With its strong brand and market recognition, Infrastructure Journal's editorial proposition and geographic reach complements Euromoney's Project Finance brand which it has owned for 25 years.

"Infrastructure Journal is a business we have long admired and we are delighted that it is now part of our stable of global brands," said Richard Ensor, chairman of Euromoney. "With an estimated 57 trillion dollars of investment into infrastructure projects required around the world by 2030, we believe this part of the business-to-business information sector offers attractive growth fundamentals. Euromoney aims to create a comprehensive market-leading infrastructure information provider by combining, under the Infrastructure Journal brand, the deals database and news coverage of Infrastructure Journal and the deals analysis, awards and conferences of Project Finance."

Duncan Painter, CEO of Top Right Group, said: "Infrastructure Journal is well respected in its sector and delivers valuable insight and expertise to its customers. The skill of the team, investment in content and the launch of new topical forums each year have kept the brand ahead and we are delighted that the Infrastructure Journal name will continue in the marketplace. We believe Euromoney Institutional Investor will be a good long term home for the brand and we wish the business every success in the future."

Ends

For further information, please contact:

Euromoney Institutional Investor PLC

Richard Ensor, Chairman: +44 20 7779 8845; rensor@euromoneyplc.com 

Christopher Fordham, Managing Director: +44 20 7779 8998; cfordham@euromoneyplc.com 

Colin Jones, Finance Director: +44 20 7779 8666; cjones@euromoneyplc.com

FTI Consulting

Charles Palmer: +44 20 7269 7180; charles.palmer@fticonsulting.com

NOTE TO EDITORS

Euromoney Institutional Investor PLC (www.euromoneyplc.com) is listed on the London Stock Exchange and is a member of the FTSE-250 share index. It is a leading international business-to-business media group focused primarily on the international finance, metals and commodities sectors. It owns more than 70 brands including Euromoney, Institutional Investor and Metal Bulletin, and is a leading provider of economic and investment research and data under the BCA Research, Ned Davis Research and ISI Emerging Markets brands. It also runs an extensive portfolio of conferences, seminars and training courses for financial markets. The group's main offices are in London, New York, Montreal and Hong Kong and more than a third of its revenues are derived from emerging markets.