Agreement to dispose of Genscape (863063)

 
 Daily Mail and General Trust plc (DMGT) 
Agreement to dispose of Genscape 
 
26-Aug-2019 / 11:16 GMT/BST 
Dissemination of a Regulatory Announcement that contains inside information 
according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group. 
The issuer is solely responsible for the content of this announcement. 
 
                   26 August 2019 
 
         Daily Mail and General Trust plc (DMGT) 
 
         Agreement to dispose of Genscape 
 
          DMGT announces that it has agreed the sale of Genscape, its Energy 
    Information business, to Verisk (Nasdaq: VRSK), a leading data analytics 
      provider, for US $364m. Genscape will become part of Wood Mackenzie, a 
             Verisk business, and will enhance Wood Mackenzie's existing and 
    complementary sector intelligence business in short-term energy data and 
 analytics. The sale is expected to complete in the coming weeks, subject to 
                   the completion of customary closing conditions. 
 
     Paul Zwillenberg, CEO, commented: "This transaction marks another major 
        milestone in DMGT's continued transformation and is in line with our 
      strategy. It will further increase the focus of the portfolio and will 
          result in DMGT operating in five sectors, compared to ten in 2016. 
       Significant progress has been made improving operational execution at 
 Genscape, consistent with our strategic priorities and, on completion, DMGT 
is expected to have more than GBP200m net cash on its balance sheet, enhancing 
                   the Group's financial flexibility." 
 
Genscape, a pioneer in real-time data delivery, provides market intelligence 
    across the global commodity and energy spectrum. It operates the world's 
     largest private network of in-field monitors for collecting fundamental 
         energy data and aims to improve market transparency and efficiency. 
 
      Centerview Partners are acting as advisers to DMGT during the disposal 
                   process . 
 
Enquiries 
 
 
Investors: 
Tim Collier, Group CFO                   [phone] 
Adam Webster, Head of Investor Relations [phone] 
 
Media: 
 
Doug Campbell, Teneo                     [phone] 
Paul Durman, Teneo                       [phone] 
 
                   Market Abuse Regulation 
 
           The information communicated in this announcement includes inside 
                   information. 
 
                   About DMGT 
 
DMGT manages a portfolio of companies that provide businesses and consumers 
with compelling information, analysis, insight, events, news and 
entertainment. The Group takes a long-term approach to investment and has 
market-leading positions in consumer media, insurance risk, property 
information, education technology, energy information and events & 
exhibitions. In total, DMGT generates revenues of around GBP1.4bn. 
 
Person responsible for arranging the release of this announcement: 
 
Fran Sallas, Company Secretary [phone] 
 
ISIN:          GB00BJQZC279 
Category Code: DIS 
TIDM:          DMGT 
LEI Code:      4OFD47D73QFJ1T1MOF29 
Sequence No.:  17984 
EQS News ID:   863063 
 
End of Announcement EQS News Service 
 
 

(END) Dow Jones Newswires

August 26, 2019 06:16 ET (10:16 GMT)