Daily Mail and Mail Online-owner DMGT will sell its risk insurance business RMS to ratings agency Moody’s for £1.4 billion. The deal comes as DMGT’s major investor, the Rothermere family, is looking to buy the remainder of the company it does not already own.
The transaction is contingent on the sale of RMS, the completion of the stock market listing of online car seller Cazoo, and agreement with DMGT’s pension trustees. DMGT will be focused on media, events and property technology once the RMS deal completes later this year.