Ascential sells 11 “heritage” brands to Meropolis International for £23.5m

Press Release: Ascential plc (the “Group” / LSE: ASCL.L), the global business-to-business information company, today announces that it has agreed the sale of the remaining 11 UK-based Heritage Brands to Metropolis International Limited for a consideration of £23.5m, payable in cash and subject to normal working capital adjustments. The sale has completed and the proceeds will be used to reduce Ascential’s net debt. On 5 January 2017 the Group announced that it had separated 13 Heritage Brands into a new operating entity and that these brands would develop an independent business strategy while new owners were sought.

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UBM to sell Property Week and channel business

UBM plc today announces that, subject to contract, it has agreed to sell its Property Week print magazine and related products to Metropolis International. Subject to satisfaction of TUPE conditions, Property Week’s 35 staff will transfer to Metropolis International following completion. UBM also announces the sale of its North American IT channel business to a […]

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