Daily Mail & General Trust PLC Agreement to dispose of EDR (5214H)

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RNS Number : 5214H

Daily Mail & General Trust PLC

13 March 2018

13 March 2018

Daily Mail and General Trust plc (DMGT)

Agreement to dispose of EDR

Following the announcement, in November 2017, of a process being under way to dispose of EDR, the US property information business, DMGT announces that a sale has been agreed. Silver Lake Partners and Battery Ventures, two leading private equity investors with experience in growing technology, data and software businesses and investing in evolving business models, will acquire EDR for $205 million. The sale is expected to complete in the coming weeks.

The disposal is consistent with DMGT's key strategic priorities of increasing portfolio focus and enhancing financial flexibility.

Goldman Sachs International acted as advisers to DMGT during the disposal process.

For further information

 
 For analyst and institutional 
  enquiries: 
 Tim Collier, Chief Financial 
  Officer                                   [phone] 
 Adam Webster, Head of Management 
  Information 
   and Investor Relations                   [phone] 
 
 For media enquiries: 
  Alex Moorhouse, Head of Communications      [phone] 
 

Market Abuse Regulation

The information communicated in this announcement includes inside information.

About DMGT

DMGT manages a diverse, multinational portfolio of companies, with total revenues of around GBP1.5 bn, that provide businesses and consumers with compelling information, analysis, insight, events, news and entertainment. DMGT is also a founding investor and the largest shareholder of Euromoney Institutional Investor PLC and ZPG Plc.

Person responsible for arranging the release of this announcement:

 
 Adam Webster, Head of Management 
  Information 
   and Investor Relations            [phone] 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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March 13, 2018 03:02 ET (07:02 GMT)