In a press release Euromoney Institutional Investor PLC (“Euromoney”), the international online information and events group, today announced that it has entered into an agreement to sell its energy publishing businesses, Gulf Publishing Company (“Gulf”) in Houston and the Petroleum Economist in London, to a consortium led by Gulf’s CEO, John Royall and media investor Russell Denson, for a cash consideration of $18 million. Euromoney has owned Petroleum Economist since 1989 and Gulf since 2001. The transaction is expected to close on April 30, 2016.
This transaction is in line with the strategy presented at Euromoney’s recent Investor Day, including actively managing its portfolio of assets and seeking to sell certain businesses which do not align with its strategy.
For the full press release click Here