Euromoney Institutional Investor PLC, 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.
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