Centaur Media PLC Centaur completes disposal of CTM (7588X)

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RNS Number : 7588X

Centaur Media PLC

01 May 2019

1 May 2019

Centaur Media Plc

Centaur completes disposal of travel and meetings exhibitions to Northstar for GBP9.25m

Centaur Media Plc ("Centaur" or the "Group"), an international provider of business information and specialist consultancy, announces that it has today completed the sale of Centaur Media Travel and Meetings Limited ("CTM").

As announced last month, CTM, the owner of the Business Travel Show and The Meetings Show, has been acquired by Northstar Travel Media UK Limited ("Northstar"), a leading B2B information and marketing solutions company focused on the global travel and meetings industries. The consideration was GBP9.25m in cash, subject to customary post-completion adjustments.

The disposal is part of the divestment process that began last October after Centaur concluded a strategic review and decided to focus on its leading brands to improve operational execution. Together with the recently announced sales of its financial services and HR businesses, the Group has raised GBP19.25m in aggregate.

Discussions about other assets are continuing and Centaur expects to make further announcements in due course. As previously disclosed, Centaur will consider the best use for the sale proceeds once the divestment process is complete.

Enquiries

 
 Centaur Media Plc 
 Andria Vidler, Chief Executive 
  Officer                          020 7970 4000 
 Swag Mukerji, Chief Financial 
  Officer 
 
 Teneo 
 Paul Durman/Rebecca Hislaire      020 7420 3144 
 

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Centaur

Centaur is an international provider of business information and specialist consultancy that inspires and enables people to excel at what they do, raising the standard for insight, interaction and impact.

Leading brands include: Econsultancy, Marketing Week, Festival of Marketing, MarketMakers, Creative Review, Influencer Intelligence, Fashion & Beauty Monitor, The Lawyer and Oystercatchers.

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May 01, 2019 06:50 ET (10:50 GMT)