Euromoney buys stake in CIE (Australia)

Euromoney Institutional Investor PLC is extending its global leadership in the business of events for institutional investors and asset managers with the acquisition of a 75% stake in the Centre
for Investor Education (“CIE”).

Based in Melbourne, Australia, CIE ( was founded in 1997 and is Australia’s leading provider of investment forums for senior executives of superannuation funds and
global asset management firms. Principal events include the Chief Investment Officers Symposium and the Major Market Players Symposium, both held annually in Australia, as well as the International Investing Symposium which was held in Tokyo earlier this month. CIE was acquired in 2010 from its founder, Melda Donnelly, by Erling Sorensen and Jamie Nemtsas who have expanded its portfolio of events and will remain shareholders in CIE until December 2015.

The acquisition is expected to be earnings enhancing for Euromoney in financial year 2013. Euromoney has paid an initial A$14.4 million (£9.9 million) cash consideration for a 75% interest in CIE, to be adjusted up or down dependent on CIE’s results for the year to December 2013. Euromoney will acquire the remaining 25% of CIE’s equity in two instalments based on CIE’s profits for the years to December 2014 and 2015. The acquisition will be funded from Euromoney’s existing committed borrowing facility. CIE recorded an unaudited pre-tax profit of A$1.5million (£1.0 million) on revenues of A$4.3 million (£2.9 million) for the year to December 2012.

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