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Euromoney sells markets intelligence unit for $180.5 mln​

Reuters - UK Focus

LONDON, Feb 12 (Reuters) - Euromoney, a business to business information company, said it agreed to sell its Global Markets Intelligence Division(GMID) to a consortium led by CITIC (HKSE: 0267-OL.HK - news) Capital Partners for $180.5 million, selling off a non-core unit.

Euromoney said proceeds of about $145 million would leave the company in a net cash position and provide it with funds to help grow its activities in pricing, asset management and telecoms.

Private equity (IOB: 0QLS.IL - news) firm CITIC Capital acquired the GMID business in partnership with Caixin Global. Hong Kong-headquartered GMID provides financial intelligence on emerging markets including China, India and Brazil.

Euromoney is 49.1 percent-owned by Daily Mail & General Trust Plc.​ (Reporting by Sarah Young, Editing by Paul Sandle)